Fitch downgrades Spain's rating, with internationa

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Fitch downgraded Spain, international oil prices fell on Friday

Fitch downgraded Spain, and international oil prices fell on Friday

May 31, 2010

[China paint information] due to Fitch's downgrade of Spain, which depressed the euro, international oil prices fell on Friday. At the close of trading on Friday, the July futures of light crude oil on the New York Mercantile Exchange were $73.97 a barrel, down $0.58 from the previous trading day; London Intercontinental Exchange Brent crude oil July futures domestic universal tensile testing machine polarization development trend to technology intensive transformation of $74.02, down $0.64; June futures of heating oil in New York fell 1.92 cents to 198.02 cents per gallon; Rbob gasoline futures in June were 201.98 cents per gallon, down 1.91 cents; June diesel futures on the London Intercontinental Exchange were $636 per ton, up $3 from the previous trading day

Fitch international, a rating service agency, announced on Friday that it would reduce Spain's rating from 3a to aa+, predicting that the fiscal tightening measures taken by the Spanish government to deal with the debt crisis would greatly hinder Spain's medium-term economic recovery. After the news was released, the financial market panicked, and the anxiety about the spread of the European debt crisis rose rapidly. U.S. stocks and the euro fell in response. The latter reduced the attractiveness of oil futures as an investment, thereby suppressing oil prices. On April 28, S & P also lowered Spain's rating to 2A

before the close of the oil market on Friday, the euro fell 0.5% against the US dollar to US $1.2296 from US $1.2362 on Thursday. The S & P 500 index fell 0.8% to 1094.69; The Dow Jones index fell 0.8% to 10178.95

Jim ritterbusch, President of ritterbusch and associates, an oil trading consulting company, made the pointer return to zero. Ritterbusch said, "the euro has driven the oil price down. At present, the European Union has not found a solution to its key problem. It is expected that the euro will fall below 1 in the next one to two weeks. (1) collect data of $20 and press the oil price to around $67."

crude oil futures in New York for July delivery on Friday fell $0.58, or 0.8%. The oil price fell by more than $12 in May, with a cumulative decline of 14%, the largest decline since December 2008

unfavorable economic data also put pressure on oil prices. Data released by the U.S. Department of Commerce on Friday showed that although personal income in the United States increased by 0.4% month on month in April, consumer spending in the same period was unexpectedly flat from the previous month, which was the first time to stop growth since September last year, indicating that for crystalline polymers, consumers in the United States are not confident in the prospects of the U.S. economy and are more inclined to use the increased income for savings. Analysts had expected consumer spending to grow by 0.3%

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