CPT Markets: The recovery of Chinese demand and the decline of Russian oil production boosted oil prices! Japanese customs...

Brentcrude oil (Brent Oil)：

Brent crude oil rose to83.08Nearby, the hope of a strong rebound in China's economy offset the concern that the US interest rate increase would drag down the consumption of crude oil in the world's largest economy, which boosted the oil price.

In terms of positive data, Tuesday's survey showed that with the recovery of Chinese demand and the decline of Russian production, the oil price is expected to rise to a barrel in the second half of this year90Above USD. In response, analysts at JPMorgan Chase pointed out in a report that China's economic recovery will drive up demand for commodities, with oil benefiting the most. The expectation of a recovery in Chinese demand has supported the upward trend, and the market is waiting for key data in the next two days. Economists surveyed by Reuters predict that,2Manufacturing activity in the world's second largest economy increased in the month.

In terms of bearish data, the American Petroleum InstituteAPIAnnouncement as of2month24The inventory of crude oil in the current week has significantly increased compared to expectations620.3Ten thousand barrels. Prior to Tuesday, the US Energy Information AdministrationEIAAccording to published data, the United States12Monthly crude oil production has decreased121010000 barrels/Day, last year8The lowest level since the beginning of the month. However, US crude oil inventories have been increasing and are expected to continue to rise for the third time in a row10Weekly increase. In addition, all three major US stock markets have narrowed, including the S&P500Index decline2.61%The decline of the Dow4.19%And the Nasdaq Index fell1.11%。

In summary, oil prices have been boosted in the short term by the recovery of Chinese demand and the decline in Russian production, but US stocks have all declinedAPIThe surge in oil storage has limited the upward trend of oil prices; Focus on manufacturing industry in the futurePMIandEIAdata

Press from above(Upper resistance) 83.00，83.40； From the downward direction, the lower support82.70。

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.