Crude oil market value

Crude oil market value

And the crude oil trend that opened on Monday did show a further downward trend. I thought the market would try to hit the 70-line support on Monday, but thanks to the positive help brought by the OPEC monthly report, crude oil once again showed a strong upward trend. In the end, the market returned to above $7, covering most of the decline last Friday. Although OPEC has brought a wave of timely positives, the market did not continue Monday’s gains after the market opened on Tuesday. It can be inferred that the impact of OPEC’s monthly report is very limited and the crude oil gains it brought only lasted for a short period of time. time. Rather tCrude oil market valuehan continuously boosting oil prices, it is more likely to maintain the bottom support of crude oil.

Ashraf also said that in Europe, competition among various natural gas from all over the country has intensified. He added that pipeline natural gas from Russia and North Africa are competing with each other, while LNG from Qatar and Nigeria, and LNG from the United States in the near future are competing.

If it is good, the oil price will rise to $55, which will further alleviate the imbalance between supply and demand in the oil market; if it is bad, the price of oil will drop back to the $40 range for a while, indicating that the imbalance between supply and demand is still unresolved, and oil prices may not rise back to $80 per barrel.

From a technical point of view, US crude oil fell after breaking the US$7 mark. This level will become an important resistance to rising oil prices. Above this level, oil prices will have a chance to test the 770 level. The strong support below is located at US$680, which is lower. Support is at $680.

All in all, the international oil price has risen above 5 U.S. dollars, leaving only a gap of about U.S. dollars from 55 U.S. dollars. Many big data and major events will be announced next week. If good news is obtained, international oil prices are likely to rise above the 55 U.S. dollar mark. As a result, the price adjustment of refined oil products on the 28th ushered in the second increase in the year. I hope everyone will pay close attention to the direction of oil prices next week.

On the national average, 92 gasoline is reduced by 0.29 yuan per liter; 95 gasoline is reduced by 0 yuan per liter; 0 diesel is reduced by 0 yuan per liter. According to the estimation of the 50L capacity of the general family car fuel tank, filling a tank of 92# gasoline will save about 5 yuan. After four consecutive increases, some areas in Southwest and South China where the price of 92# gasoline exceeds 8 yuan will return to thCrude oil market valuee 7 yuan era.