The hottest medium-term crude oil in Shanghai has

2022-08-23
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Shanghai medium term: crude oil stopped for a while, and the fuel market demand was light.

on Monday, the settlement price of NYMEX July crude oil futures closed down $3.78 to $133.91/barrel, between 131 Between $25. On Thursday and Friday, driven by the weakening dollar and geopolitical factors, the original oil price (1) jumped by 13.3% in the high-intensity range, hitting a record high of $139.12/barrel on Friday. After two consecutive days of crazy rise, crude oil futures encountered obvious profit taking, and temporarily entered the consolidation period

in terms of news, OPEC secretary general said on the 9th that there has been a serious disconnect between oil prices and fundamentals for some time, and that OPEC believes that there is no need to increase production at present. Even if there is no oil shortage, oil prices will continue to rise; A senior executive of Goldman Sachs Group said on the 9th that due to strong demand and low inventory, the "super surge" in global crude oil prices predicted a few years ago was about to come in the process of experiment; Morgan Stanley analysts said on the 6th that strong demand from Asia may lead to a sharp rise in oil prices in the short term, and the oil price may reach $150/barrel by July 4. But at the same time, Lehman Brothers said in a report that as the evidence of reduced demand in Asian economies slowly becomes a reality, oil prices may fall sharply before the end of this year or early next year

Rogers predicted on the 6th that the rise in crude oil prices will rise for several years, because the known reserves will only shrink. He said that unless someone finds a large amount of oil, it will easily rise to $150 or even $200, and the world is exhausting the known oil reservoirs

in addition, Saudi Arabia said on Monday that it would call for a meeting between oil producing countries and consumer countries to discuss the unreasonable rise in oil prices. The Saudi cabinet also said that there were no fundamental factors to support the surge in oil prices, adding that the market was in sufficient supply. Saudi Arabia's appeal did not curb oil prices, but with the increasingly strong calls of countries to resist high oil prices, bulls will also feel some anxiety

in terms of foreign exchange, European Central Bank President Trichet said on Monday that the bank may change its business and raise interest rates next month. Similar remarks made by him last Thursday made the US dollar sharply lower; U.S. Treasury Secretary Henry Paulson said on Monday that he did not rule out the possibility of boosting the dollar through intervention; The governor of the Federal Reserve Bank of New York also said on Monday that the central bank was very concerned about the dollar and made a speech to continuously improve the service standards, which boosted the dollar to recover its losses against the euro last Friday

the fanning of major institutions once again fills the market, and $150 seems to have become a goal that is bound to be achieved. Under the current situation, no one can say how high the oil price is this year, or to what point the oil price will fall back. The long and short sides are still fighting fiercely, but the momentum of the air side has fallen sharply recently, and it is expected that it will be difficult to fall sharply this week, mainly with shock and slow decline

the spot price of fuel oil in Asia continues to rise sharply, and the transaction is still very light. Some traders said that Chinese buyers are unlikely to return to the market at a spot price of more than $600/ton. The wait-and-see atmosphere dominates the whole market, and we need to continue to wait and see the price trend of the external market. Multiple orders leave the market on high, mainly short space operations

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