CPT MarketsGlobal demand concerns offset geopolitical tensions and lower oil prices! ...

Brentcrude oil (Brent Oil)：

Brent crude oil closed significantly lower on Tuesday, closing down more than1%Afterwards, the opening today fell to81.85Nearby, concerns about global demand offset Israel-The Hamas conflict supports oil prices.

In terms of bearish data, US crude oilfuturesThe premium of spot contracts has more than doubled compared to the next month's contract, reaching a maximum of per barrel1.71The US dollar is the widest in about four months. This encourages energy companies to sell spot contracts instead of spending money to store oil for delivery in the coming months. OPECEfforts to reduce crude oil production have encountered difficultiesOPECThe hard wall of national production increase, especially in the United States, where11The monthly production has reached a record level and continues to consolidate its position as the world's largest single oil producing country. The growth data of major Asian countries continues to be lower than expected, while the unstable demand for crude oil in these countries has led to much higher than expected supply in the energy market. IGMarket analystTony SycamoreIn a report, it was stated that the crude oil market saw a slight decline in calm trading during the US holiday on Monday, as demand concerns offset the ongoing geopolitical tensions in the Middle East. Asian powers have announced the largest ever reduction in benchmark mortgage rates since2019The largest increase since the introduction of the reference interest rate in the year far exceeded analysts' expectations. In addition, the International Energy Agency（IEA）Last week's report was downgraded2024Forecast for annual oil demand growth, compared to the Organization of Oil producing CountriesOPECThe outlook is missing10010000 barrels/Day.

In terms of Lido data, the shipping industry suffered losses due to increased attacks on the Red Sea and Mand Strait waterways by the Hussein armed forces allied with Iran in order to support the Palestinians. Since Friday, drone and missile attacks have hit at least four ships. Although the Middle East is one of the world's major oil producing regions, the market seems to be more concerned about supply and demand contradictions, which is a concern for the market. Despite concerns about multiple Middle East conflicts, the crude oil market remained indecisive on Tuesday, leading to a difficult consolidation of crude oil in recent times. According to a study by Deutsche Bank, crude oil prices may remain near current levels until mid year of this year and then rise in the second half of the year. Analyst Kasten?Fridge stated in a report that the ongoing geopolitical tensions in the Middle East, the threat of supply disruptions, and the resulting increase in risk premiums strongly support the current situation80dollar/Price level above barrels 。 There is currently no indication that risk premium will be excluded in the short term. Deutsche Bank estimates that Brent crude oil prices will rise in the middle of this year, driven by a mild economic recovery and limited supply80to85dollar/Barrel left and right, then it will rise to90dollar/Bucket.

Press from above(Upper resistance) 81.80，82.20； From the downward direction, the lower support81.40。

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.