Mainly driven by favorable US employment data, international oil prices rose sharply on the 10th and New York oil prices closed at a new high of three and a half months.

According to data released by the U.S. Department of Labor, during the week ending November 5, the number of U.S. applicants for unemployment benefits decreased for the second consecutive week, a decrease of 10,000 people, to 390,000, the lowest level since April of this year. . The four-week moving average also fell to its lowest level since April.

The improvement in the US job market boosted market sentiment and pushed up oil prices. At the same time, the U.S. dollar fell due to the weakening effect of hedging tools, and the weaker dollar boosted the rise in oil prices.

In addition, China's October trade data showed that crude oil imports rose month-on-month, increasing investor confidence. With the development of Iran’s nuclear issue, the market is worried that some countries will impose sanctions on Iran’s energy exports, which will affect global oil supply and provide impetus for rising oil prices.

However, the debt problem in Europe still plagued the market, and the soaring yield of Italian government bonds made investors cautious about the debt outlook in Europe.

By the close of the day, the price of light crude oil** delivered by the New York Mercantile Exchange in December rose by $2.04 to settle at $97.78 per barrel, an increase of 2.13%, the highest closing price since July 26 this year. The London Brent crude oil price in London in December rose 1.40 US dollars to close at 113.71 US dollars per barrel, or 1.24 percent, and the price gap with New York oil prices narrowed to 15.93 US dollars.