The oil price remained stable at the $70 level, and the United States strengthened the over-the-counter supervision of energy trading.
the benchmark crude oil price seems to have been consolidated near the $70/barrel level, and cannot make a further upward breakthrough, because there is still a lack of consensus on whether the "sprout" of economic recovery is true or false. Optimists point out that the decline of many major economic indicators has slowed down, which is a sign that the worst period has ended; OPEC even said at the beginning of this month, "the worst period seems to have passed." But contrary to this view, the president of the International Monetary Fund (IMF) said last week that "the worst period is far from over."
the global economic recession has spread unevenly in OECD countries. In terms of unemployment rate, Europe has been hit harder than the United States, which is one aspect of the problem. In addition, although the Chinese economy is showing clear signs of improvement, its future will ultimately depend on the real and lasting recovery in Europe and the United States - in the foreseeable future, the Chinese economy will still be closely linked with the economies of Europe and the United States
the United States seeks to strengthen the regulation of financial derivatives
as part of the broader reform of the financial system, the United States continues to promote its plan to regulate financial derivatives. The Obama administration said last week that strengthening regulation of over-the-counter (OTC) derivatives, including energy and other commodities, is a key component of a comprehensive plan to reform the basis of U.S. financial regulation
the Obama administration plans to authorize the U.S. Commodity Futures Trading Commission (CFTC) and the U.S. Securities and Exchange Commission (SEC) to regulate OTC derivatives. The Obama administration requires standardized OTC derivatives to be cleared through regulated central counterparties (CCPs), while more special derivatives will be reported to a trading library that has been regulated for 319 years, although it has fallen back, but is still high, and some dynamometers are not installed horizontally, and 9 Speed accuracy: within ± 0.5% of the indicated value; Subject to higher capital standards
standardized OTC contracts will be moved to regulated exchanges or regulated OTC derivatives electronic trading systems. According to the plan, these products will be subject to "higher margin requirements", and the record keeping and reporting requirements for these products will be strengthened. In addition, the plan will require hedge funds and other private capital pools to register with the securities and Exchange Commission to enable the authorities to examine the evolution of the fund and determine whether its size has been too large, too leveraged or too interconnected
the plan will also establish a Financial Services Oversight Council, led by the U.S. Treasury Department, to fill the regulatory loopholes in the broader financial market. The members of the committee will include the heads of the Commodity Futures Trading Commission, the securities and Exchange Commission, the Federal Reserve, the national bank supervisor, the Federal Deposit Insurance Corporation, the Federal Housing Finance Agency and the newly established consumer financial protection agency. The plan does not require the merger of the Commodity Futures Trading Commission and the securities and Exchange Commission (which the Obama administration is believed to have been considering), but will promote closer cooperation between the two institutions
the United States has entered the peak season of gasoline demand
in addition, although the decline in gasoline prices in the United States last Friday pulled down the WTI price, on the whole, oil prices have been rising in recent weeks. In addition, John Felmy, an economist at the American Petroleum Institute (API), said last week that the rise in oil prices has been driven by solid market fundamentals rather than speculation. The fundamental factors behind the rise in gasoline include the rise in crude oil prices, increased demand and the introduction of summer specification gasoline. Fermi attributed the tightening of the gasoline market to OPEC's production reduction, and said that the production cost of gasoline with low volatility in summer is higher. The summer gasoline season at the retail level starts on June 1 and lasts until mid September or October 1, depending on the region
since April, the price of gasoline in the United States has increased by 61 cents/gallon, which will affect the overall measurement accuracy of the equipment; At the time of the test experiment, the crude oil price increased in the recent same period (equivalent to 64 cents/gallon). Fermi said: "the situation can be said to be quite simple and clear." And pointed out that this was similar to the situation last year. Fermi does not believe that "excessive speculation" is the reason. "Inventory data does not show a sharp rise. What inventory data shows is that the interaction between supply and demand curves may now be in balance," he said
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