Last week was the fifth consecutive increase in OPEC oil prices. Since the beginning of February this year, OPEC oil prices have continued to rise by nearly 12 US dollars, an increase of 10%.
Last week, OPEC’s oil prices continued to rise with a variety of factors. The geopolitical crisis surrounding the Iranian nuclear issue is one of them.
Iran is OPEC's second largest crude oil exporter, and it also adheres to the Hormuz Strait, the world's most important sea channel for oil transportation. Its Gulf region also concentrates several crude oil exporters that have a significant position in the world crude oil market. .
The market is concerned that the escalation of the Iranian nuclear issue may trigger local military conflicts, which will lead to the disconnection of crude oil supply or transportation lines there. This worry has continued for several weeks and has become a cloud over the market. This worry has also become the main topic of speculation in the international crude oil market for some time.
Second, the market's optimism that Greece may avoid default through debt restructuring has also pushed up oil prices. Greece has signed a support plan with European banks. Several major banks and old-age pensioners last week expressed their support for Greece’s debt-rebate plan. This will provide Greece with relief funds and avoid obstacles to immediate default.
The euro was boosted by the progress of the resolution of the Greek debt crisis. At the same time, the fall of the dollar ignited the use of other currencies by investors who took interest in crude oil prices and thus pushed up oil prices.
Third, the United States has also spread some information that has prompted the rise in oil prices. The U.S. Department of Labor announced on Friday that the number of non-agricultural employment increased by 22.7 million in February this year, exceeding economists' expectations. This data shows that the United States, the world’s largest crude oil consuming country, has improved its economic situation and supported the stock market, bringing the S&P 500 Index up by 0.3% to 1370 points. The rise of US stocks also drove the oil price to rise.
For some time to come, European debt and Iranian issues will continue to be important factors that will continue to affect oil prices. As these two issues are not resolved and the situation is uncertain, international oil prices may still fluctuate greatly. In addition, given that oil prices have risen continuously for more than a month and reached a relatively high level, speculators will not be excluded from taking profits.
The masonry bit is a variation of the Twist Drill Bit, the bulk of the Tool is a relatively soft steel, and is machined with a mill rather than ground. An insert of tungsten carbide is brazed into the steel to provide the cutting edges.
Masonry bits typically are used with a Hammer Drill, which hammers the bit into the material being drilled as it rotates; the hammering breaks up the masonry at the Drill Bit tip, and the rotating flutes carry away the dust.
Hammer drill bits often use special shank shapes such as the SDS type, which allows the bit to slide within the chuck when hammering, without the whole heavy chuck executing the hammering motion.
Masonry bits of the style shown are commonly available in diameters from 3 mm to 40 mm. For larger diameters, core bits are used. Masonry bits up to 1,000 mm (39 in) long can be used with hand-portable power tools, and are very effective for installing wiring and plumbing in existing buildings.
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