CPT MarketsThe increase in refining activities in the United States is driving up oil prices! Follow Europe and America within the day...

Brentcrude oil (Brent Oil)：

Brent crude oil rose sharply after closing high on Monday, and opened today with a rise of82.16Nearby, the increase in US refining activities has restricted selling, but concerns about the Middle East conflict disrupting supply have eased and data from major Asian countries shows weak demand, leading to Asian markets At the beginning of the trading session, US crude oil fluctuated narrowly.

In terms of bullish data, an increase in US refining activity may tighten global crude oil supply, which will help limit the decline in oil prices. Due to low refinery operating rates, US crude oil inventories have been rising for six consecutive weeks. According to weekly government data, analysts predict that the operating rate will increase last week1.4Percentage points, while the operating rate jumped the previous week3.4Percentage points, reaching the total production capacity84.9%, setting a new six week high. Regarding this, Mizuho Bank'sBob YawgerThe increase in refining utilization may lead to inventory shortages for the first time this year. After experiencing a downturn at the beginning of the year, oil prices began to recover. Economists from Mitsubishi UFJ Bank analyzed Brent's prospects and stated that oil bulls are quietly winning. As oil prices continue to rise, oil bulls are quietly winning, and Brent crude oil is about to break through this year10The fluctuation range of the US dollar. Indeed, the steady climb is not eye-catching, but economic exceptionalism, tightening fundamentals, and the rapid rise in oil price differentials (indicating tight supply) are reinforcing constructive narratives.

In terms of bearish data,5Brent crude oil for monthly deliveryfuturesLCOc1Report receipt per barrel82.21USD, up0.13USD. American crude oil4Monthly contract decline0.08USD, reported per barrel77.93USD. After bearish data from major Asian countries suggested weak demand from the world's largest crude oil importer, both of these indicator contracts closed lower last week. Brent crude oil fell last week1.8%Although the contract has remained at per barrel for over a month80Above USD. US crude oil fell last week2.5%。 US crude oil is currently in an upward trend, but has fallen back due to resistance on the upper track of the channel. In the short term, it may further explore the support on the lower track of the channel,100Daily moving average75.95The nearby support is also located near the lower track of the channel. Last Thursday's data showed that the crude oil imports of major Asian countries in the first two months of this year were in line with2023Compared to the same period last year, there has been an increase, but it is weaker than the previous few months, continuing the trend of decreasing purchase volume.

Press from above(Upper resistance) 82.10，82.60； From the downward direction, the lower support81.80。

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.