CPT Markets:Biden Plan to Buy Back Oil in the United States to Boost Oil Prices! Follow the United States within the day4...

Brentcrude oil (Brent Oil)：

Brent crude oil rose to77.13Nearby, due to the market weighing the US government's plan to replenish the country's emergency oil reserves and the expected seasonal demand increase, oil prices have received an upward boost.

In terms of Lido data, the Biden administration plans to start purchasing oil to supplement its strategic oil reserves after completing maintenance work later this yearSPR. The Biden administration has previously stated that it plans to reach a barrel price by70Replenish inventory around USD, but no specific time specified. The US Department of Energy stated in a statement on Tuesday that the United StatesSPRThe scale remains the largest in the world, and the Department of Energy remains committed to supplementing it in a way that brings maximum value to US taxpayers and protects US national security interestsSPRAt the same time, complying with the requirements of Congress and carrying out necessary maintenance is also a part of good management.

In terms of bearish data, the American Petroleum InstituteAPIData representation, as of5month5During the past week, US crude oil and gasoline inventories unexpectedly increased last week, increasing to361.8Wanhe39.9Ten thousand barrels. Tuesday US Energy Information AdministrationEIAIn its "Short Term Energy Outlook"(STEO)Medium prediction,2023Annual US crude oil production is expected to increase5.1%Fuel demand will increase1%The agency also lowered its forecast for Brent crude oil and US crude oil prices. In addition, all three major US stock markets have narrowed, including the S&P index closing lower0.46%The Dow Jones Industrial Average closed lower0.17%And the Nasdaq Index closed lower0.63%。

In summary, oil prices have been boosted by the Biden administration's plan to repurchase oil later this year, although the United StatesAPIThe increase in oil storage and the overall narrowing of US stocks have limited the upward trend of oil prices; Key focus for the day will be on the United States4monthCPIAnnual rate andEIAdata

Press from above(Upper resistance) 77.10，77.60； From the downward direction, the lower support76.70。

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.