International oil price rose 0.14% to close at 88.93 US dollars a barrel

Mainly affected by tropical cyclones that may hit the Gulf of Mexico, New York's oil prices rose slightly on the 1st, but London's oil prices fell.

The National Hurricane Center in the United States stated that a low pressure in the central Gulf of Mexico will have a 70% chance of turning into a tropical cyclone over the next two days. Energy companies in the Gulf of Mexico have begun to suspend production and evacuate staff. In addition, "Katiya" strengthened into a hurricane on August 31, also aggravated the risk in the Gulf of Mexico, pushing up oil prices.

In terms of economic news, the data released by the American Institute for Supply Management on the same day shows that the US manufacturing activity index is 50.6. Although it has fallen from last month, it still shows that manufacturing expansion. According to data from the US Department of Labor, the number of initial jobless claims in the United States fell by 12,000 last week to 40.9 million, but at the same time the previous week's data was revised to 42.1 million, the highest in six weeks.

In Europe, Germany’s manufacturing activity index in August increased by the lowest level in the past two years, while French manufacturing contracted for the first time since July 2009. In addition, the Greek economy has experienced a recession, and the market is concerned that Greece may not be able to complete the plan to reduce its fiscal deficit as scheduled, thus suppressing oil prices.

At the close of the day, the price of light crude oil for delivery in October on the New York Mercantile Exchange slightly increased by 12 cents to settle at 88.93 US dollars per barrel, an increase of 0.14%. However, London Brent crude oil prices in London in October fell 56 cents to settle at 114.29 US dollars per barrel, a decrease of 0.49%.