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Due to market concerns about the Syrian conflict affecting oil production and exports in the Middle East, international oil prices rose slightly on the 18th, with New York oil prices closing to a nine-month high.
According to BP, the crude oil production in the Middle East accounted for 33% of the world in 2012. Syria’s crude oil exports have almost stopped. The market is worried that the Syrian conflict will affect Iraq in neighboring countries. Iraq’s oil production ranks second in the OPEC countries.
In terms of economic data, after the construction of new homes fell sharply in April, the number of new homes in the United States rebounded in May. According to data released by the US Department of Commerce on the 18th, the annual rate of new housing starts in the United States was calculated to be 914,000 units per year, which was higher than the 856,000 units revised in the previous menstrual period, an increase of 6.8 points from the previous month and an increase of 28.6 from the same period in 2012.
As of the close of the day, the light crude oil futures for July delivery on the New York Mercantile Exchange rose 0.67 US dollars to close at 98.44 US dollars per barrel, or 0.68. The price of London Brent crude oil futures for August delivery rose 0.55 US dollars. It closed at $106.02 per barrel, an increase of 0.52.