International oil prices rose slightly on the 7th

Due to better-than-expected US September employment data, international oil prices rose on the 7th, but the increase was limited by Italy and Spain’s sovereign debt rating. Eventually oil prices in New York and London both rose slightly.

On the same day, the US Department of Labor announced that the non-agricultural employment report for September showed that while the U.S. unemployment rate remained at 9.1% during the month, 103,000 jobs were newly added, which was higher than the 60,000 expected before the market, and the number of new jobs increased in August. From 0 to 57,000, the result is better than market expectations. The positive data of the world's largest crude oil consumer country boosted the sentiment of the crude oil market, oil prices rose, and the New York oil price reached an intraday high of 84 US dollars per barrel.

However, Fitch announced that it would downgrade the long-term sovereign debt ratings of Italy and Spain. The prospects are negative. The reason is that the deepening of the European debt crisis poses a huge risk to its economy and its people. The downgrade highlighted the seriousness of the European debt crisis, increased the worries of the crude oil market, and narrowed the rise in oil prices.

At the close of the day, the price of light crude oil for November delivery on the New York Mercantile Exchange slightly increased 39 cents to settle at 82.98 US dollars per barrel, or 0.47%, and rose 3.78 US dollars or 4.77% for the whole week.

The London Brent crude oil price in November delivery rose slightly by 15 cents to settle at US$105.88 per barrel, up 3.12 US dollars or 3.04% over the week.