CPT MarketsFears of further interest rate hikes by the Federal Reserve to limit the rise in oil prices! Follow within the day...

Brentcrude oil (Brent Oil)：

Brent crude oil, which closed with mixed gains and losses on Monday, fell to83.79Nearby, concerns that further interest rate hikes by the United States may suppress demand have led to a weak and volatile downward trend in oil prices.

In terms of bearish factors, crude oil fell for the second consecutive week last Friday after Federal Reserve Chairman Powell stated that further interest rate hikes may be needed to cool stubborn inflation. BOK FinancialSenior Vice President of TradingDennis KisslerThe market is still concerned that demand will decrease, especially if we see interest rates rise again, the market will be very tense. In addition, according toCMEFederal Reserve observations indicate that the Federal Reserve9Monthly interest rate maintained at5.25%-5.50%The constant probability is78.5%； reach11Monthly cumulative interest rate increase25The probability of a basis point is50.5%。

In terms of bullish factors, the price difference of Asian medium distillate oil cracking hit a seven month high on Monday, and there are concerns that market supply will tighten due to unexpected disruptions to Western supply. 10ppmThe price difference of diesel cracking has climbed to per barrel36Around USD, the price difference of aviation coal cracking has broken through35The US dollar barrier. Diesel spot prices have risen to a premium per barrel compared to Singapore's quoted price2.41The US dollar has seen an expansion in the market's reverse price spread structure, despite a lack of trading. Aviation coal/The diesel price difference is still stuck at per barrel1The range of the US dollar is almost unchanged from the closing of the previous trading day, as strong sales from Chinese refiners provide demand support for market participants. In addition, all three major US stock markets closed higher, including the S&P index closing higher0.62%The Dow Jones Industrial Average closed higher0.62%And the Nasdaq Index closed higher0.84%。

In summary, oil prices have been suppressed due to demand concerns limiting oil price increases. However, the Asian gasoline cracking price difference remains near a one-year high and all US stocks have closed higher, limiting the decline in oil prices; Key focus for the day will be on the United States8Monthly Consumer Confidence Index of the Chamber of Commerce and the United States7monthJOLTsJob vacancies.

Press from above(Upper resistance) 83.70，84.10； From the downward direction, the lower support83.30。

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.