CPT MarketsThe rising geopolitical situation has led to a supply crisis, causing oil prices to hit a nearly two-week high!...

View All · Published on 2023-12-19 11:38:46

Register now, make more friends, enjoy more functions, and let you play in the community easily.

You need Sign in Can be downloaded or viewed without an account?Register Now

x

CPT MarketsThe rising geopolitical situation has led to a supply crisis, causing oil prices to hit a nearly two-week high!...518 / author:CPT / PostsID:1727214

Brentcrude oil (Brent Oil)：

CPT MarketsThe rising geopolitical situation has led to a supply crisis, causing oil prices to hit a nearly two-week high!...357 / author:CPT / PostsID:1727214

Brent crude oil opened today for consolidation after a significant surge in closing on Monday78.13Nearby, oil prices rose more than on Monday due to market concerns that maritime trade and supply costs would be disrupted after the Yemeni Hussein armed group allied with Iran attacked Red Sea vessels1%。

In terms of bullish factors, oil prices have risen after Iranian backed Hussai militants intensified their attacks on Red Sea vessels, sparking concerns about supply disruptions. The oil giant BP has temporarily suspended transportation on this route, and other shipping companies have also indicated that they will avoid this route. Global approximately 15% The shipping volume is transported through the Suez Canal, which is the shortest route between Europe and Asia. The London marine insurance market expanded the high-risk area of the Red Sea on Monday, with premiums paid by ships skyrocketing9Times.

BP announced today that it has temporarily suspended all transportation through the Red Sea. This is a response to the attack on a Norwegian ship earlier that day, as consumers now face the prospect of bearing the increased transportation costs and time constraints of the refinery. Oil brokerage companyPVManalystTamas VargaThe rise in geopolitical risk premium has played an indisputable role in the recovery of oil prices. HoweverVargaIt was added that sufficient oil supply on Monday limited the rise in oil prices. The trading price of spot delivered crude oil from the United States and Brazil is lower than that of post delivery crude oil, indicating sufficient supply in the spot market. In addition,StoneX Market analystFawad RazaqzadaIt is necessary to consider the increased supply costs as more and more oil tankers stop all navigation through the Red Sea Strait.

Press from above(Upper resistance) 78.10，78.50； From the downward direction, the lower support77.70。

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.