CPT MarketsThe escalation of the long-term conflict between Israel and Palestine has kept the oil market at a high level! Follow English within the day...

Brentcrude oil (Brent Oil)：

Brent crude oil rose and fell behind in Thursday's trading, but opened today for consolidation85.69Nearby, the oil market sentiment remains high due to the Israeli Palestinian conflict.

In terms of positive data, after the Israeli Palestinian conflict, the sentiment in the oil market remains high, and the market is concerned that as the long-term conflict rapidly escalates, political tensions may spread to nearby Iran and Saudi Arabia, thus providing support for oil prices. UBSUBSanalystGiovanni StaunovoHe said that the decline in US bond yields is stimulating risk appetite, thus supporting the stock market and oil, and added that Saudi Energy Minister Prince Abdulaziz and Russian Deputy Prime Minister Novak reiterated that their continued cooperation to balance the oil market is playing a role.

In terms of bearish data, the US Energy Information AdministrationEIAAnnouncement as of10month6The change in crude oil inventory for the current week has significantly increased compared to expectations1017.6Ten thousand barrels, for2023year2month10A new high since the beginning of the current week; Commercial crude oil imports from the United States, excluding strategic reserves632.910000 barrels/Day, increased from the previous week11.410000 barrels/Day; Increase in commercial crude oil inventories excluding strategic reserves1017.610000 barrels to4.24Billion barrels, growth rate2.46%. In terms of crude oil supply, domestic crude oil production in the United States has increased30.010000 barrels to1320.010000 barrels/Day. The average four week supply of crude oil products in the United States is1996.910000 barrels/Day, increased compared to the same period last year0.09%. In addition, Thursday's data showed that inflation in the United States is slowing down, further supporting the expectation of the Federal Reserve freezing interest rate hikes next month.

In summary, oil prices have been supported by the rapid escalation of the long-term conflict between Israel and Palestine. However, the rebound in US inventories exceeding expectations and interest rate hikes has hindered the rebound in oil prices; The focus of the day will be on the speeches of the Governor of the Bank of England and the European Union.

Press from above(Upper resistance) 85.60，86.00； From the downward direction, the lower support85.20。

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.