CPT MarketsFederal Reserve Chairman's testimony from Congress: Surprisingly, hawkish gas is driving down oil prices! day...

Brentcrude oil (Brent Oil)：

Brent crude oil fell to83.29Nearby, the downward pressure on oil prices has been exacerbated by concerns about interest rate hikes and the strengthening of the US dollar, due to statements by Federal Reserve Chairman Powell.

In terms of bearish data, Federal Reserve Chairman Powell told US lawmakers on Tuesday that in response to recent strong data, the Federal Reserve is likely to need to raise interest rates more significantly than expected and is prepared to take stronger action when overall information indicates the need to use stricter measures to control inflation in the future. Powell's speech strongly hinted that Federal Reserve policymakers would be3month21-22At the meeting, the forecast for terminal interest rates was raised, which prompted the bond market to quickly reprice. In addition, all major US stock markets have narrowed, including the S&P index's closing decline1.50%The Dow Jones Industrial Average closed lower1.72%And the Nasdaq Index closed lower1.25%。

In terms of Lido data, the American Petroleum InstituteAPIThe data shows that as of3month3Reduction in crude oil inventory within one week of the day383.5Ten thousand barrels. Tuesday US Energy Information AdministrationEIAIn its "Short Term Energy Outlook"STEOChina stated that as Chinese people's travel drives consumption, US crude oil production and demand will increase this year,OPECAlso make this prediction. althoughEIAPredicting Russia3The decline in monthly oil production will exceed the previously announced reduction in production by the country, but due to Russia's recent oil exports exceeding expectations,EIAThe forecast for the country's oil production has been raised4010000 barrels/Japan, while the Organization of the Petroleum Exporting CountriesOPECsecretary general Gais It also indicates that its oil demand will be2023Annual growth5010000 barrels to6010000 barrels/Day.

In summary, the recent decline in most commodity and financial markets has been due to the possibility that the Federal Reserve will need to raise interest rates more significantly than expected to cope with the recent strong data. HoweverEIAandOPECIt is expected that global oil demand will increase this year, limiting the decline in oil prices; Focus on the United States during the day2monthADPNumber of employees andEIAdata

Press from above(Upper resistance) 83.20，83.70； From the downward direction, the lower support82.90。

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.