CPT MarketsThe lower than expected decline in US oil inventory has limited the increase in oil prices! Day Pass...

Brentcrude oil (Brent Oil)：

Brent crude oil fell to a low of79.45Nearby, after profiteering earlier due to tight US crude oil supply, despite the first increase in crude oil inventories in two years in the US Strategic Oil Reserve last week, the decline in US crude oil inventories last week was less than expected to limit oil price increases.

In terms of bearish data, on Wednesday, the US Energy Information AdministrationEIALast week, US crude oil inventories decreased due to increased crude oil exports and increased refinery capacity utilization. The United States from Strategic Oil ReservesSPRThe action of selling crude oil in China6The end of the last week of the month has tightened the global crude oil market. EIAAs of7month14During the past week, it was pointed out that inventory in Cushing, a key delivery center in Oklahoma, has decreased290Ten thousand barrels, net US crude oil exports increase16710000 barrels/Day, reach38110000 barrels/Day. Last week, crude oil inventories rose to70.8Ten thousand barrels and gasoline inventories have risen to106.6Ten thousand barrels.

In terms of Lido data, the US Energy Information AdministrationEIAAccording to released data, last week the US Strategic Oil ReserveSPRThe crude oil inventory in China has increased by approximately1000Bucket, for2021year1The number has increased for the first time since the beginning of the month. In recent months, the US Department of Energy has started purchasing oil to supplement strategic reserves. Previously, due to the US Congress demanding the release of oil from strategic reserves to curb high commodity prices, inventory decreased1983The lowest level since the beginning of the year. As of7month14daySPRThe crude oil inventory in is3.46759Billion barrels,7month7Day is3.46758Billion barrels. In addition, all three major US stock markets closed higher, including the S&P index closing higher0.22%The Dow Jones Industrial Average closed higher0.31%And the Nasdaq Index closed higher0.03%。

In summary, the increase in oil prices was limited by a smaller than expected decrease in inventory. However, last week, crude oil inventories in the US Strategic Oil Reserve increased for the first time in two years and the US stock market closed higher, limiting the decline in oil prices; Key focus for the day will be on US initial unemployment benefits andG20Meeting of Energy Ministers.

Press from above(Upper resistance) 79.40，79.90； From the downward direction, the lower support79.00。

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.