Data shows that the number of initial jobless claims in the United States unexpectedly increased last week, adding to concerns about the surge in new crown pneumonia cases and restraining the market economy. In addition, the new crown vaccine has been on the market for at least several months, and market optimism has cooled. The early API and EIA crude oil inventories were negatively affected by the new crown. Vaccine support was released. On Thursday, international crude oil turned into a downward trend. US WTI crude oil December futures closed down 8 cents, or 0.19%, to US$41.74/barrel. It once hit a low of US$41.26/barrel during the session; January Brent crude oil futures closed down 14 cents, or 0.31%, to $44.20 per barrel.
Recently, the topic has returned to the market’s concerns about the surge in new crown cases. According to Worldometers statistics, from last week to press time, there have been at least 500,000 new confirmed cases of new crown every day in the world, and at least 100,000 new cases per day in the US Up to 180,000 cases. Most organizations have indicated that the full launch of the vaccine on the market still requires several months or years. Ryan, the chief emergency expert of the World Health Organization, said that it will take at least four to six months to vaccinate on a global scale. The Pan American Health Organization (PAHO) said that by the end of 2021, the New Coronary Pneumonia Vaccine Implementation Plan (COVAX) will deploy at least 2 billion doses of the new crown vaccine, but this is not enough to vaccinate everyone. China has 5 vaccines in the UAE, Brazil, Pakistan, Peru and other countries in phase III clinical trials, and a number of vaccines are stepping up to advance phase I and II clinical trials. We all look forward to hearing the good news from them as soon as possible. Promote a wave of oil market conditions.
The number of initial claims for unemployment benefits in the United States exceeded expectations, which intensified market concerns about the market economy and dragged down the outlook for oil demand. As of November 14, the number of initial claims for unemployment benefits in the United States was 742 thousand after the seasonal adjustment last week, compared with the previous value of 709 thousand. The agency claims that the number of initial claims for unemployment benefits is still about three times the level before the recession, and, with the renewal of millions of unemployment benefits due, this is considered to be an increasingly unreliable measure of the health of the job market. index. These data show that the number of initial jobless claims unexpectedly increased last week, adding to concerns that the surge in new coronary pneumonia cases will curb economic growth in the world’s largest economy.
On the whole, the market expects the challenge to spend the next 6 months. Zhang Boli, an academician of the Chinese Academy of Engineering and president of Tianjin University of Traditional Chinese Medicine, pointed out that it is estimated that vaccination will be widespread from this winter to next spring. In this case, it is estimated that by the time spring flowers bloom next year, in April and May, there will be a big turning point in the global epidemic. At the same time, the market is waiting for OPEC+ to make a final decision on oil supply at the meeting from November 30 to December 1, and guide the oil market.