Driven by factors such as the rise in the stock market and an increase in IEA crude oil demand expectations, New York Mercantile Exchange (NYMEX) crude oil futures rose to a four-week high on the 10th, closing up 1.48%, exceeding US$75 per barrel, to US$75.48 per barrel.

According to a report by Voice of China's "Global Chinese Broadcasting Network" at 12:15, attention was paid to the explosion accident on the US drilling platform. The oil leak caused serious environmental pollution.

International Energy Network News: The first Nuclear Security Summit, which concluded in Washington on the 13th, determined the goals of international nuclear security instruments such as the revised Convention on the Physical Protection of Nuclear Material and the International Convention for the Suppression of Acts of Nuclear Terrorism as the core of the global nuclear security system. Substanti

International Energy Network News: The European Commission announced on the 4th that it will allocate 2.3 billion euros as a special fund for the construction of 43 energy projects. This move will not only ensure Europe's energy supply, but also create more job opportunities and further stimulate economic recovery.

According to the British "Guardian" news, business leaders such as Branson, founder of the famous British private enterprise Virgin Group, recently stated that the world will run out of oil and an energy crisis will break out in the next five years, which will be more serious than the credit crunch crisis.

UAE Foreign Minister Abdullah emphasized on the 17th that the international community must redouble its efforts in sustainable development and renewable energy and jointly promote the development of renewable energy.

European leaders plan to set up a fund worth 6 billion euros (approximately S$12 billion) in the next three years to help developing countries cope with global warming and enable progress in the Copenhagen climate negotiations.

The International Energy Agency (IEA) recently stated in a draft of the "World Energy Outlook" that the global natural gas market will face a surplus, which will weaken the oil and gas price linkage. The draft is expected to be released on November 10.