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Crude oil at 3% natural gas TCEP jumped 7.4%
Edit: Taizhou New Material Co., Ltd.Date: 2016-07-02

Beijing 29th morning, crude oil futures higher on Tuesday. United Kingdom referendum sparked fears of a global economic slowdown that oil prices fell yesterday, today the market stabilized, a rebound in oil prices. Norway oil and TCEP Gas Workers Union strike threats, as well as the dollar weakens, is also a factor contributing to the rise in oil prices.


Meanwhile, driven by climatic factors, natural gas futures prices surged more than 7% on Tuesday. July natural gas futures contract expires today, magnifies the natural gas price volatility market volatility.


For August delivery on the New York Mercantile Exchange, West Texas intermediate crude (WTI) futures rose $ 1.52, or 3.3%, to close at 47.85 dollars a barrel. August Brent crude futures rose $ 1.42, or 3%, to close at 48.58 dollars a barrel.


Monday, WTI crude oil futures price hit its lowest level in more than a week, Brent crude oil futures hit about 7-week lows. United Kingdom referendum on select Exit led to falls in global markets, investors also sold energy products.


Global markets stabilised slightly on Tuesday, Sterling stops the downward spiral, Europe and United Kingdom markets closed higher.


Analysts believe that this market has oversold, so the rally is inevitable, while central banks took concerted measures to support financial markets is also increasing.


Dollar index on Tuesday closed down 0.3%, also boosted the dollar-denominated oil futures prices.


Other energy futures, July gasoline futures rose 3.3 cents, or 2.3%, to close at $ 1.51 a gallon.


July natural gas futures rose 20.1 cents, or 7.4%, to close at million United Kingdom thermal units US $ 2.917 for the main contract's highest closing price since August 2015. July contract was due after the close today.

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