On October 19, 2007 (September 9, 2007 lunar calendar), international oil prices continued to fluctuate at a high level due to the interaction of various factors. On November 7, traders worked on the New York Mercantile Exchange in the United States. Due to the smaller-than-expected decline in US commercial oil inventories and market profit-taking, the New York benchmark crude oil futures price fell slightly by $0.33 on the 7th, closing at $96.37 per barrel. But oil prices hit a record high of $98.62 in trading on the day. On November 21, 2007, the price of light crude oil futures for January 2008 delivery on the New York Mercantile Exchange rose to $99.29 per barrel, approaching the $100 mark. Since then, oil prices have continued to fluctuate at a high level. On December 5, the New York market crude oil futures closed at $87.49 per barrel and are still fluctuating around $90. The strong demand for crude oil and the tight supply, the sharp depreciation of the US dollar, the geopolitical tensions in some oil-producing countries, and speculative speculation by investors are the main factors driving up international oil prices.