As the US dollar went up, the economic datas were not good and the demand were weak at the early week, the international crude futures continued a downward stance. Data told that the second-hand house sales in July fell 27.2%, which created the historical level in falling range. Influenced by this, the NY crude futures price closed 2% lower on Tuesday, the lowest level until June 7th. On Wednesday, the crude oil ended the continuous falling stance supported by the stronger US stocks. On Thursday, it continued to rebound due to the favorable employment datas and the softened US dollar.
After the international oil price fell to around $71, it became much slower, which implicts that the oil price is still fluctuating between $70-80. And in a short time, the price will go on operating among the range.
China Chemical Weekly: http://news.chemnet.com/en/detail-1403616.html
