INTERNATIONAL OIL PRICE RISING MOMENTUM MAY BE DIFFICULT TO SUSTAIN

In the week ending January 11, international oil prices continued to rise sharply due to factors such as the recovery of investor confidence. As of the close of the week, the two major oil index contracts rose significantly, Brent crude oil rose about 6%, and US crude oil rose about 7.6%.
Excluding the downward trend on the 11th, the international oil price has already come out with a situation of "9-day rise". In that week, Brent crude oil hit the first "9-day rise" since September 2007. US crude oil also achieved a "9-day rise", breaking the 2010 record.  

“After a few days of increasing, the market is only breathing a little,”
CHWDedgingLLC energy market analyst Hendrick reminded. However, market participants remain cautious as a series of recent economic data made investor concerns about the global economic slowdown.

World Bank acting governor Christalina Georgieva said in a semi-annual report released in the week that "the global economy is gaining momentum in early 2018, but it has gradually stalled in the middle of the year. This year's development path May be more bumpy."

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 http://sowoll.com/en/blog/post/511-international-oil-price-rising-momentum-may-be-difficult-to-sustain
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