CPT Markets: Many institutions predict that the increase in oil demand in Asia will push up oil prices! American oil depot...

Brentcrude oil (Brent Oil)：

Brent crude oil rose to84.26Nearby, as the market expected that the economies of Asian countries were rebounding, the hope of increased oil demand was enhanced, and the oil price was boosted.

In terms of Lido data, JPMorgan analysts China's economic recovery will boost its demand for commodities, with oil being the biggest beneficiary. Analysts expect China's demand for oil to increase, leading to record levels of imports this year, which has curbed the decline in oil prices. A survey shows that with the recovery of Chinese demand and a decrease in Russian production, oil prices are expected to rise to per barrel in the second half of this year90Above USD. According to foreign media reports, on Wednesday, the head of Goldman Sachs' commodity research departmentJeff  CurrieIn an interview with the media, the bank expressed great confidence in its future12-18Oil prices will soar again next month. With declining oil inventories and stabilizing money supply, it is expected that crude oil prices will hit per barrel in the fourth quarter100USD.

In terms of bearish data, the US Energy Information AdministrationEIAAnnouncement as of2month24The change in crude oil inventory for the current week has increased to116.5Ten thousand barrels, for2021year5The highest increase since the beginning of the month, exceeding analysts' expectations45.7Ten thousand barrels. This is the third consecutive crude oil inventory10Weekly increase. Other signs of sufficient supply include, according to Business DailyKommersantReported that Russia's oil production is2For the first time in the month, it reached pre sanctions levels. In addition, a survey showed that2monthOPECOil production has also increased.

In summary, the signs of sufficient supply, including an increase in US crude oil inventories, have been offset by hopes of increasing demand from Asia, the largest crude oil importer, as they continue to grow. Goldman Sachs analysts predict the future12-18Oil prices will soar again next month. With declining oil inventories and stabilizing money supply, it is expected that crude oil prices will hit per barrel in the fourth quarter100USD.

Press from above(Upper resistance) 84.20，84.60； From the downward direction, the lower support83.80。

CPT MarketsRisk Tips and Disclaimers : The above article content is for reference only and is not intended as future investment advice.CPT Markets The articles published are mainly based on international financial data reports and international news as reference.