since October this year, the dollar index in international oil prices and a rare positive correlation. Generally, the international oil price in dollars, both the history shows negative correlation.
| Sulfamic acid 99.50% |
Although the dollar index has set a new high of 14 years, but the industry is expected, due to the global economic recovery in demand for crude oil could improve the stimulation, gradually return to fundamentals, if producers joint production are effectively implemented, the future overcapacity will be eased, prompted a further rise in oil prices.
The dollar, crude oil dropped significantly negative correlation
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Data show that as of December 20th, the Chicago (CME Group), the New York Mercantile Exchange, NYMEX trading in February crude oil futures are the most active to close at $53.51 a barrel, the season has risen by more than 8%. Some analysts pointed out that the crude oil market will be affected by macroeconomic events and the dollar index, but the market is mainly in accordance with their fundamental guidelines, this year, crude oil prices by a greater impact on the supply side.
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The current dollar interest rate cycle has entered a strong hard to stop. Founder medium-term researcher Sui Xiaoying said that the Fed rate hike under the background of global liquidity tightening, to maintain a strong dollar, dollar denominated crude oil prices will also be long suppressed, in addition, although the OPEC and non OPEC members agree on the next cut, which will accelerate the market rebalancing process, but whether the countries committed to implement production is still in doubt, more importantly, the relationship between supply and demand the improvement brought about by the rebound in oil prices will trigger the return of North American shale oil, which will in turn put pressure on oil prices. Overall, next year the crude oil market oversupply situation will be further repair, oil prices will continue to run the central move, but return to the North American shale oil will restrict upside height.
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