Crude oil market

Crude oil market

Although crude oil speculation can be used for small gains, investors still need to have a certain degree of economic capacity to resist investment risks. Investment is not a gambling behavior that overwhelms all of your possessions. Therefore, you still need to consider your own economic conditions before deciding to fry crude oil,Crude oil market and make plans when the investment funds do not affect your normal life.

In the short to medium term, gasoline prices in emerging and developing economies such as India, South Africa, and Turkey have repeatedly hit record highs. Superimposed on the fourth quarter is the low season for gasoline consumption, which may drag down the decline in terminal oil consumption. As of 0-2, the Brent gasoline cracking spread narrowed to US$0.7/barrel, a record low for the same period in five years. At the same time, from 0 to month is the centralized maintenance period for refineries. Compared with the peak demand season in August, the demand for crude oil from US refineries has fallen by 80,000 barrels per day; OECD inventories, European ARA inventories, and US EIA crude oil inventories have all increased. Crude oil inventories have increased substantially for five consecutive weeks, far exceeding market expectations.

However, the spread has soared again, although this time the situation may be slightly different from before. This time, with OPEC's production cuts leading to tighter market supplies, the spread is not just a manifestation of the soaring shale oil production, although it is certainly a major factor. Another reason is the pipeline bottleneck in the Permian Basin, which has led to an increase in supply from West Texas.

In April, domestic temperatures began to pick up. The winter heating season in northern China has basically eliminated the limited production season. Downstream factories have fully resumed work. Together with the increase in operating rates of outdoor infrastructure projects and industrial and mining enterprises, rising commodity prices have promoted the gradual activity of the logistics and transportation industry. During the spring plowing period, agricultural oil consumption increased, and at the same time, the demand for air transportation during the holidays was also relatively active.

Trump announced on Tuesday that the United States will withdraw from the Iran nuclear agreement because strong sanctions will take effect in full. In recent months, Paris-based iea said it is monitoring the market situation very closely. The mission of this agency is to maintain global energy security.

In addition, global trade tensions have caused countries' GDP to perfoCrude oil marketrm below market expectations. The poor performance of China and the United States' GDP in the third quarter is a special reminder that the US GDP will be announced tomorrow. In view of the performance of the US stocks and US debt markets, the third quarter GDP may hardly achieve outstanding performance.