CPT MarketsThe global economic slowdown and concerns about interest rate hikes are two major factors driving down oil prices! city...

Brentcrude oil (Brent Oil)：

Brent crude oil, after closing high and falling on Monday, opened today for consolidation74.82Nearby, concerns about a global economic slowdown and possible interest rate hikes by the United States overshadowed major exporting countries Saudi Arabia and Russia, announcing8The impact of monthly supply reduction.

In terms of bearish factors, the American Association for Supply ManagementISMexpress,6Monthly Manufacturing Purchasing Managers IndexPMIHas been below for the eighth consecutive month50The watershed of prosperity and decline indicates a contraction in the manufacturing industry, which is the longest continuous contraction since the Great Depression. This survey also shows that the pressure on factory input prices is slowing down, and activity is shrinking, leading to factories laying off workers. In addition, according toCMEFederal Reserve Observation7Monthly interest rate maintained at5.00%-5.25%The constant probability is13.2%Interest rate hike25Bps to5.25%-5.50%The probability of the interval is86.8%； reach9The probability of maintaining interest rates unchanged on a monthly basis is10%Accumulated interest rate increase25The probability of a basis point is69.1%Accumulated interest rate increase50The probability of a basis point is20.8%。

In terms of positive factors, Saudi Arabia and Russia, the world's two largest oil exporting countries, deepened their oil production cuts on Monday, pushing oil prices higher despite concerns about a global economic slowdown and the possibility of further interest rate hikes by the Federal Reserve. Saudi Arabia has stated that it will10010000 barrels/The voluntary production reduction on the day will be extended by another month, which will8The month is included and there is a possibility of further extension thereafter. Saudi Press Agency SPAAccording to an official source from the Ministry of Energy, Saudi Arabia2023year8The monthly production will be90010000 barrels/Around the day. Monday Deputy Prime Minister of Russia Novak Indicating that Russia's oil exports8Monthly decrease5010000 barrels/Day. In addition, all three major US stock markets closed higher, including a rise in the S&P index0.12%The Dow Jones Industrial Average rose0.03%And the Nasdaq Index rose0.21%。

In summary, oil prices have been shaken by concerns of a global economic slowdown and a possible interest rate hike by the United States. However, Saudi Arabia and Russia have deepened their oil production cuts, limiting the decline in oil prices; The Independence Day of the United States is celebrated earlier than Beijing time during the day05day01:30End, Market Focus 8th SessionOPECInternational seminar.

Press from above(Upper resistance) 74.80，75.20； From the downward direction, the lower support74.40。

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.