The well-known financial bloCrude oil contract template exported to Texasg Zero Hedging Review EIA data stated that API crude oil inventories fell in the early hours of Wednesday morning, but gasoline inventories increased sharply, and oil prices were trading at a two-month low. Investors therefore expect that EIA can also record a decline, but crude oil and gasoline inventories have increased substantially, and US crude oil production continues to record highs, putting pressure on oil prices to plunge rapidly.
ING Bank of the Netherlands said that with Bolton’s appointment as a national security adviser, it is expected to have an impact on the monthly crude oil supply. In a short period of time, Brent crude oil will maintain an upward trend above $70. But here The market needs to pay close attention to OPEC's decision before.
In the first half of this year, crude oil imports increased by 6%, enabling it to compete with the United States for the title of the world’s largest oil buyer. At the same time, this strong demand, coupled with supply disruptions in Canada and Nigeria, helped boost international crude oil prices by 80% since January. %about. However, in the second half of this year, the pillar that supports the rebound of oil prices from its lowest level in two years may be faltering.
According to Bloomberg data, in the first quarter of this year, the volume of Russian crude oil delivered through pipelines soared 4% to an average of about 750,000 barrels per day. In the first five months of this year, Russia’s crude oil exports to Europe through its main ports in the Baltic and Black Seas fell by 9%.
The price of Brent crude oil is above the $80 mark, and international oil prices have temporarily suspended their upward trend. So, is $80 the highest point of Brent crude oil prices? The futures market suggests that there is still a big market outlook for crude oil prices.
The Iraqi Ministry of Petroleum said oCrude oil contract template exported to Texasn the 2nd that Iraq’s crude oil exports reached an average of 70,000 barrels per day in February, setting a record high, with a monthly figure of 20,000 barrels per day. Among them, the crude oil export volume of Basra Port in southern Iraq reached 60,000 barrels per day, and the monthly volume was 10,000 barrels per day.
With spot crude oil last week, international crude oil prices jumped by nearly 2%. The Secretary-General of OPEC said that non-OPEC oil-producing countries such as OPEC and Russia will hold a meeting with the purpose of establishing a mechanism to verify the compliance of oil-producing countries with production reduction agreements. It is also expected to show the level of efforts made by various oil-producing countries to implement their commitments to reduce production. This week’s market focus, after Trump took power, three new officials took office. Judging from the previous signs, the Trump team can’t wait to subvert the many policies of the Obama era and reform the healthcare reform bill with less resistance. May bear the brunt, and in order to revive traditional energy industries such as coal and oil, withdrawing from the climate agreement may be on the agenda. In addition, many countries publish PMI for manufacturing and service industries, and GDP data for the United Kingdom and the United States. In terms of spot crude oil and U.S. crude oil, after a wave of rising prices on Friday, the current daily closing line and Bollinger Middle Orbit are running above the daily line. In addition, the daily line maintains a high doji. Generally, the high doji indicates that the market outlook is in shock. In addition, the short-term moving average MA5 obviously crosses MA0 and the daily moving average is located below the 0 axis. In conjunction with the attached MACD indicator, the daily moving average is still optimistic about the downward trend of shocks. From the 4-hour trend of the major cycle, After the Asian market showed a trend of opening higher, the current price is running on Bollinger's upper rail. The top 500 US dollars is the point that needs to be focused today, and the bottom 580-560 US dollars is the bottom support that needs to be focused, plus the big cycle The moving average indicator MA5 clearly crossed the MA0 daily moving average above the 0 axis. Jin Cha continued to increase in volume. With the attached figure indicator MACD Jin Cha continued to increase in volume, 4 hours are still optimistic about the upward trend of shocks. Spot crude oil operation recommendations: step back on the 580-50 line to do more, stop the loss at 520, target 54 US dollars, and look at 55 for the break.