What is crude oil trading

What is crude oil trading

Because OPEC has always expressed its views on the oil market, this has caused market sentiment to fluctuate constantly, leading to constant fluctuations in oil prices, and the entire oil market has maintained a state What is crude oil tradingof volatility. Whether OPEC will increase production is still the focus of market discussion, and the views on this issue have continuously changed the market trend.

The Qaidam Basin is one of the most abundant basins in my country in terms of oil and natural gas resources. Since 205 years in 2007, it took 8 years for PetroChina to add up to 800 million tons of proven oil reserves in the basin, which is more than Qinghai Oilfield in 2007. The total proved oil reserves in 52 years ago, the newly-added proven natural gas geological reserves reached 8.4 billion cubic meters.

For crude oil spot investment, you need to bring your ID card and bank card to open an account, and employees of spot companies are not allowed to do it on your behalf. In spot crude oil investment, there should not be a phenomenon of employees overtaking their behalf. Formal exchanges and brokerage companies will strictly prohibit trading operations for investors and maintain the independence of customers. Investors must have a sense of self-protection and do not inform others of their accounts and passwords at will, so as to avoid trading losses.

McConn also said that the recent increase in oil prices is a positive factor for U.S. oil producers, but for those companies that hedge future crude oil production at lower than current oil prices, if WTI crude oil prices stabilize at 68 per barrel this year U.S. dollars, hedging contracts may cause a potential loss of $7 billion.

Iran has begun to seek OPEC's support to counter US sanctions, and at the same time said that it did not agree with Saudi Arabia's view of increasing global crude oil supplies, which means that the OPEC meeting on June 22 is still facing great uncertainties.

Fritsch pointed out that the Iran nuclear agreement will temporarily become the focus of the oil market, while other fundamental factors such as inventory levels and production levels will temporarily stay behind the scenes and will not resurface until the nucleWhat is crude oil tradingar agreement issues are resolved.

Of course, the most negative impact is the crude oil inventory data released overnight. Data released by the US Energy Information Association EIA on Wednesday showed that US crude oil inventories increased by 2.5 million barrels last week, and the market is expected to decrease by 450,000 barrels, setting a record as of April 29. The biggest increase since the beginning of the week; Cushing, the delivery site of US crude oil, increased by 50,000 barrels, the largest increase since the week of August 5. Crude oil inventories unexpectedly increased sharply, gasoline and distillate inventories also rose slightly. After the data was released, a large number of sales As a result, the price of WTI crude oil fell instantly, and the price of oil that was hovering at a low level plunged.

According to the results of the number of wells in the United States last week, it was expected that crude oil inventories would continue to increase this week. However, API inventories recorded a sharp drop that brought the first wave of strong momentum to the crude oil market. According to API and EIA in the previous weeks The trend is almost in line. If EIA stocks can be reduced on Wednesday night, it will further open up the intraday crude oil long market, and may even help crude oil prices break through the 67 line and further look to the previous high.

On the daily chart, the K-line range oscillated around 66-68 U.S. dollars, falling from a high of 78 U.S. dollars, the upward channel was broken, and the oil price outlook tended to bearish risks. And the auxiliary indicator MACD fast and slow line showed a downward trend of dead cross, green kinetic energy increased.