United States economic slowdown affected more conflict oil prices continued to fall-Georgia

Although Russia and Georgia conflict escalation, but there are signs that the United States economic downturn will be extended to the next year, may lead to inhibition of fuel needs, crude oil futures price Monday (11 August) decreased in the last six trading days in the five days of the report.

(http://finance.) New York low sulfur shangjiaosuo September light crude oil futures settlement prices 75 cents, to $ 114.45 per barrel, or 0.7%. ICE Brent crude oil futures close in September decreased 66 cents, to $ 112.67.

Fear of falling demand in the United States gasoline, crude oil futures price continued to decline in a month. Oil prices drop 8% last week, and set the settlement price on Monday 1 may, the lowest level since. The US dollar against the euro climbed again, close to the six-month high, this factor help down crude oil futures price. Investors in earlier this year when buying dollar oil and other commodities in current dollars begin to rebound, they also began to open positions.

LaSalle Futures Group trading department heads Matt Zeman indicated that if the dollar continues to rally, including crude oil, commodity prices will continue to decline.

While the earlier oil prices rising, mainly markets worry about Russia's Joe two countries fighting fear of interruption of the Caspian Sea oil supply. But gasoline demand and the dollar's strength of these two factors are sufficient to offset the neighbouring Russia attacking Georgia.

It is noted that the Georgia two separate provinces of raging to other parts of the country. Georgia is the Baku-Tbilisi-Ceyhan pipeline via, this pipeline every day from the Caspian Sea to the Eastern Mediterranean average shipping 85 million barrels of crude oil. Last week the oil pipeline in Turkey section has been shut down due to fire, it is expected that in two weeks will not resume operations.

Weekend fighting basic away this pipeline, it is expected that Russia attacks Georgia market oil infrastructure.

TFS Energy LLC analyst McGillian pointed out: "on the Caspian Sea oil supply threat seems to have been offset, Caucasus must have more frightened of development, or other disputes in areas that oil prices could only be turned up. ”