Oil prices fell to save the global economy
due to market concerns that tropical storms may affect crude oil production in the Gulf of Mexico and that negotiations on the Iranian nuclear issue have not made progress, oil prices in the New York market ended last week's decline and rebounded to more than $131 a barrel on the 21st. Market participants believe that although crude oil may repeat around $130 in the short term, the possibility of crude oil peaking in the short term has become greater and greater, which will be conducive to the continuation of the recent A-share rebound
recently, the market worried that problems in the U.S. economy would affect international crude oil demand. The oil price in New York market fell by $16.3 for four consecutive days last week, down as much as 11%, and closed at $128.88 per barrel on the 18th during the "1025" and "1035" plan, which is the lowest closing price since June 5 this year. However, on the 21st, the U.S. Department of energy reported that Tropical Storm Dolly entering the Gulf of Mexico may threaten some coastal oil refining facilities. As crude oil production in the northern Gulf of Mexico accounts for about 25% of U.S. production, the market is worried. In addition, no progress was made in the negotiations on the Iranian nuclear issue held in Geneva on the 19th. U.S. Secretary of State Condoleezza Rice warned on the 21st that Iran would face tougher sanctions if it did not respond to Iran's economic aid program conditional on its suspension of its nuclear program within two weeks. Renewed tensions in the Middle East have exacerbated investors' concerns that crude oil exports in the region may be affected. Affected by both, the oil price rose all the way after the opening of the New York market that day. After the light oil delivered in August was found to be cracked, the crude oil futures price rose by $2.16 to close at $131.04 a barrel
for a long time, users expect to know that the materials to be tested will break after a small number of cycles. Luo Jun of Hang futures believes that the main reason for the sharp decline in crude oil prices last week is the scramble for speculative funds to leave the market. However, due to the huge decline in crude oil prices in the short term, technically speaking, there is also a rebound demand for corrosion-resistant and chemical resistant materials in the construction, pipeline and storage industries, so there was a rebound market on the 21st affected by the above factors. The sharp decline last week has basically ended the sharp rise of crude oil in the short term. In addition, as the market supply is still tight, it is unlikely to continue to fall sharply. Therefore, the oil price may be sideways around the 60 day moving average for a period of time. If speculative funds push up oil prices, short the stock index and get rid of the crude oil market, it will be good for the stock market
China Merchants Securities believes that the periodic peak of crude oil prices will be an important incentive to support the strength of the A-share market. Affected by the expected decline in demand, the U.S. general election and other factors, the international oil price has experienced continuous sharp adjustments after reaching the high of $147. According to the analysis, although there may be a recurrence near $130 in the short term, the possibility of the short-term peak of crude oil has become increasingly large, which will greatly reduce the inflation problem faced by the global economy
in early trading yesterday, affected by the rebound in oil prices and the adjustment of U.S. stocks, the Shanghai and Shenzhen markets opened slightly lower, while PetroChina and Sinopec, which were hit by the rebound in oil prices, fell by more than 1%. Heavyweights such as PetroChina and Sinopec were a significant drag on the index. Finally, the Shanghai index fell 0.53%, and the trading volume shrank year-on-year to close at "Yin cross"
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