International oil prices rose sharply on the 11th to close at $85.72 a barrel

Driven by favorable US employment data, international oil prices rose sharply on the 11th.

According to data released by the US Department of Labor, the initial jobless claims for the United States last week decreased by 7,000 to 39.5 million, the first time in four months to 400,000 or less. This result was better than the market had expected, indicating that the US job market is slowly improving and has greatly boosted market sentiment.

In Europe, German Chancellor Angela Merkel and French President Nicolas Sarkozy will meet next week to discuss the European debt crisis and bank issues. This news also effectively alleviated the market's concerns about debt problems in Europe. European stocks rebounded sharply on that day.

However, there are still rumors in the market that France may be the next country to lose 3A sovereign credit rating. The investor confidence in the crude oil market is still very fragile and the volatility remains high.

At the close of the day, the price of light crude oil** delivered by the New York Mercantile Exchange in September rose by $2.83 to close at $85.72 per barrel, or 3.41%. The price of Brent crude oil in the North Sea market in September in London rose 1.34 US dollars to close at 108.02 US dollars a barrel, or 1.26%. Both market transactions are about 30% higher than the 30-day moving average.