Friday (July 31), due to weaker dollar and the U.S. second quarter GDP data was better than expected, the New York Mercantile Exchange (NYMEX) crude oil futures and the London Intercontinental Exchange (ICE) continues to sharply higher crude oil futures.

 First, the international crude oil closed at July 31 Summary:

 (A), NYMEX31 on September light sweet crude oil futures contract settlement price rose 2.51 U.S. dollars to 69.45 U.S. dollars a barrel.

 (B), ICE31 on September Brent crude futures settled up 1.59 U.S. dollars to 71.70 U.S. dollars a barrel.

 31 U.S. Department of Commerce announced in June the 4-quarter U.S. gross domestic product (GDP) for the ring than the initial decline rate of 1.0%, or less than expected, but for the continuous shrinkage of the four quarters in 1947 is the first since records began times. Accounted for three-quarters of the U.S. economy in the second quarter consumer spending fell 1.2% in the first quarter rose 0.6%.

 Second, the fundamental message

 (A), production quotas by OPEC members bound by output of crude oil in July than the month increased by 0.6% to 2,601.0 million barrels, slightly increased for four consecutive months, but member states to comply with limits on the production rate to 73%.

 (B), Total said the company CFO, the company may be interested in the refinery operating rate lowered, reducing the volume of refinery processing, due to the impact of weak market conditions.

 (C), British Petroleum said the company?s daily processing capacity of 400,000 barrels per day oil refinery in Rotterdam, the Netherlands on the 31st due to an external power outage, resulting in the closure of the refinery was safe.

 (D), the Italian Eni announced second quarter net profit down 76% year to 832 million euros, adjusted profit after tax was down by 60% to 902 million euros, below expectations of 1.02 billion euros, due to the decline in oil prices .

 France 31, Total said that second quarter net profit dropped 54 percent in after-tax profits down 54% year to 1.72 billion euros, but analysts expected value of after-tax profit of 1.69 billion euros.

 (E), Kuwait processing 460,000 barrels of crude oil on the largest oil refinery has suspended production, full recovery may take three days of production time, local and international market supply of oil refineries will not be subject to the impact of short-term production.