CPT MarketsChina's economic data and supply cuts support oil prices! Follow within the dayOPE...

Brentcrude oil (Brent Oil)：

After a significant increase in Brent crude oil on Monday, it opened for consolidation today90.32Nearby, due to supply reduction support and concerns about the economic growth of major inflationary countries, market sentiment for various commodities has been affected, leading to upward support for oil prices.

In terms of positive factors, Saudi Arabia and India emphasized the importance of ensuring global energy supply security, while also emphasizing the necessity of supporting the stability of the global oil market. Recent reports have pointed out that Saudi Arabia emphasizes its commitment to becoming a reliable partner and source of crude oil supply for India. In addition, according to energy consulting firmsFGEIt is estimated that the crude oil processing volume in Europe this summer has decreased compared to the same period last year7010000 barrels/Half of the reduction in production was caused by the impact of high temperatures. Meanwhile, Australian Macquarie Group stated that this year6、7Global refineries have at least decreased in the past month2%The amount of oil processed. Due to the high temperature weather, important waterways such as the Rhine and Panama Canal have dried up, increasing the transportation cost of fuel. The latest US Energy Information AdministrationEIAData shows that US gasoline inventory is currently around2.14Billion barrels, in the past5The lower level in recent years. Baker Hughes in the United States stated in its weekly report that last week, for the first time, manufacturers6An additional oil drilling rig has been added since the beginning of the month, but the total number is still decreasing compared to the same period last year127Taiwan, it's down17%。

On the other hand,IGAnalyst Tony Sicamore stated in a report that,WTICrude oil prices may be gradually rising, breaking through83The US dollar has reached a new high and will rise to93.50The resistance level of the US dollar is below, but concerns about demand from major Asian countries and Europe will limit further gains.

Press from above(Upper resistance) 90.30，90.80； From the downward direction, the lower support89.90。

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.