The marketNew York Mercantile Exchange crude oil trading hours fell sharply on Tuesday, but rebounded back to above the 65 line at the end of the market. On Wednesday, the market rose sharply. However, a strong fall at the end of the market will also spit the intraday gains. In the end, it was also barely keeping the 65 line. Looking at the trend after the opening on Thursday, the current crude oil price is likely to remain at 65-66 before the OPEC meeting, which fluctuates in a narrow range. The result of the meeting will be a watershed in the direction of crude oil.
Lost the market, oil could not find a similar buyer, and US oil producers were in a panic. However, as trade continues to grow optimistic, the plight of US crude oil is slowly alleviating. According to Reuters, an oil tanker carrying US crude oil was unloaded at the port at the beginning of the month. This was the first time that crude oil was imported from the US since the end of October. It is reported that this is a Kara
After 24:00 today, domestic gasoline prices will be reduced by 540 yuan/ton, and diesel prices will be reduced by 520 yuan/ton, which translates to a 0.42 yuan/liter reduction for gasoline and 0.44 yuan/liter for diesel. Filling up the gas tank in a car will save 2 yuan. Take a small private car with a monthly mileage of 2000 kilometers and a fuel consumption of 8L per 100 kilometers as an example. In the half month before the next price adjustment window opens at 24:00 on February 4, consumers will spend about 4 yuan less on fuel costs.
In general, the crude oil has not yet broken away from the dangerous edge of the bottom. The upswing that was finally harvested was fleeting. The oil price in May fell short at the end, and with the advent of the June market, crude oil is about to face more tests. And challenges, the OPEC meeting, the Fed’s interest rate hike, the follow-up of the trade war, the fermentation of the Middle East situation, etc. may all set off another storm in the crude oil market. Of course, the market does not have to worry too much. US State Department officials said that the talks between US Secretary of State Pompeo and North Korean Workers’ Party Central Committee Kim Young-cheol ended early because progress has been made, which boosted market risk sentiment and helped crude oil, etc. Risk assets are supported. As long as crude oil prices can hold the 65-66 line, the market outlook is still likely to counterattack.
It is reported that the US Treasury Department announced a new round of sanctions on Iran on the 0th. The sanctioned targets include six Iranian individuals and domestic entities. The assets of the sanctioned targets in the United States will be frozen, and Americans will be prohibited from trading with them.
On the supply side, OPEC does not need to change its policy. The production reduction policy is the best choice for the current market conditions. In fact, it is OPEC's united implementation of the production reduction agreement that will enable crude oil prices to rise from the past US$45/barrel to US$70/barrel. The latest data shows that in February, OPEC's implementation rate of production cuts rose further toNew York Mercantile Exchange crude oil trading hours 47%, and many countries are even willing to over-cut.
Is spot crude oil investment a scam? Many people on the Internet ask this question, some posting, some consulting, some articles reporting, and there are constant doubts. From another aspect, it also shows that crude oil investment is hot! So as an investor, you can’t be right. Make rational judgments in online articles, or believe what you see, because crude oil investment involves your own funds, you must be cautious! China Petroleum Finance Network will answer your doubts today for everyone.
In addition to the conversion of long and short forces, the price of spot crude oil has also exceeded the price of futures, indicating that the recent long speculation has led to excessive capital influx. With the recent decline in oil prices, long positions or reduced positions have further triggered the market. The panic may lead to a further drop in oil prices.