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Shanghai medium term: demand and the US dollar continue to depress Shanghai fuel oil is facing a test

on Thursday, the settlement price of nymex10 crude oil futures closed down $1.46 to $107.89/barrel, and the continued decline in demand and the rise in the US dollar pressured oil prices. Crude oil futures have fallen for the fifth consecutive trading day

the main 0811 contract of Shanghai fuel oil opened low on Friday, with a narrow intraday shock. Near the weekend, the trading volume decreased to 227808 hands, and the position decreased slightly by 508 hands to 51964 hands, closing at 4519 yuan/ton, 129 points lower than the closing price on Thursday

according to the EIA data released by the U.S. Energy Agency, gasoline demand fell by 1.6% year-on-year, and total oil demand fell by 3.5% year-on-year. Due to high prices and the weakness of the U.S. economy, the U.S. energy demand has confirmed to enter a shrinking stage

in terms of foreign exchange, the European Central Bank announced on Thursday that it would maintain the normal printing interest rate as scheduled, but the comments on reducing the forecast of economic growth in the euro area made the euro suffer heavy selling pressure. In addition, the U.S. non manufacturing data was better than expected, and the euro fell against the U.S. dollar, hitting a low point in the year. It is expected that the US dollar will remain strong against the euro in the near future

according to the latest inventory data released by the EIA, the crude oil inventory in the United States unexpectedly decreased by 19 last week. The new material industry in our province has a relatively complete range of categories, from 0 million barrels to 303.9 million barrels, and the original expectation was to increase by 200000 barrels; Gasoline inventories fell for the sixth consecutive week, decreasing by 1million barrels to 194.4 million barrels, down 1.4 million barrels as originally expected; Distillate oil inventory decreased by 400000 barrels to 131.7 million barrels, with an increase of 500000 barrels previously estimated. The market is shrouded in the shadow of demand and the dollar pressure on the grass-roots level, the first line of national construction and the forefront of project research. The decline of crude oil and gasoline inventories has little impact on crude oil

in terms of weather, the U.S. National Hurricane Center said that Hurricane Ike may bring new weather threats, and it quickly strengthened to a category 4 hurricane on Thursday. However, after the fluctuations of the previous weeks, if the oil facilities cannot be greatly damaged in the future, the hurricane's boost to oil prices will be limited

the market is most concerned about the OPEC meeting in Vienna next Tuesday. According to the survey of analysts, most of them expect OPEC to maintain its production unchanged, but Saudi Arabia will face the pressure of other Member States to cancel its production increase

Shanghai fuel oil futures followed the decline of crude oil and approached 4500 points again. The intraday trend showed that there was strong support at 4500 points, but the weakness of crude oil remained unchanged. If crude oil futures continued to decline, the Shanghai fuel oil futures price would test the important support range of 4400-4500 next week. It is not suitable to enter the site at present. Pay attention to its performance in the support range

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