Crude oil prices leading global resource massive counterattack iron ore rose 20%

Driven by the sharp rise in international oil prices, global resource prices followed up, in which iron ore prices rose about 20%, to $ 62.6 / ton, since 2009, the largest single-day gain.

As of March 7 New York Mercantile Exchange, April delivery of light crude oil futures prices rose $ 1.98 to close at $ 37.9 a barrel, or 5.51%. May Brent crude futures for delivery in London rose $ 2.12 to settle at $ 40.84 a barrel, or 5.48%, close to the highest since December last year, the international oil prices after 2016 into the first big return $ 40 turn off.

Petroleum Exporting Countries (OPEC) and non-OPEC oil producers to promote the production freeze agenda, is a major cause of the recent rise in international oil prices. Earlier, Russia, Saudi Arabia and other countries to freeze oil production reached a consensus will be frozen at the level of oil production in January.

UAE oil minister Mazar Rui March 7 that the current price level will force more oil-producing countries to join in action to freeze production. Russian Energy Minister Novak has also said that OPEC and non-OPEC may hold talks later this month.

Agence France-Presse quoted the "capital again," analyst John Kilduff • saying about freezing production dialogue will contribute to the international oil prices keep rising in the near term.

• Raymond, president of oil brokerage Paramount Options card present, said the oil market pessimism huge twist occurred since February, prompting investors to shift from the short to do more oil, but the oil market will have a greater future volatility, "this exciting rally, but most market participants do not think the market volatility is over."

Driven by the continued rebound in international oil prices, the price of base metals and other resources has been steadily climbing. According to the British "Financial Times" reported that iron ore miners, is one of many key commodities, March 7th day rose nearly 20 percent, to $ 62.60 per ton, which is the largest since the beginning of 2009 the price index compiled since single-day gain.

"Japanese Economic News" said in the London market, widely used in electric power infrastructure of copper prices after four months rose to $ 5,000 per ton again. In addition, a comprehensive reflection of changes in commodity prices Reuters CRB commodity index also hit its highest level in two months.

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