CPT MarketsUN Gaza Ceasefire Draft and Weak US Oil Demand Suppress Oil Prices!...

Brentcrude oil (Brent Oil)：

Brent crude oil opened today for consolidation after a significant decline in Thursday's closing85.06Nearby, retreat10Support near the daily moving average was suppressed by weak US gasoline demand data and reports of a draft resolution calling for a ceasefire in Gaza by the United Nations.

In terms of bearish data, on Wednesday, the US Energy Information AdministrationEIAThe report states that the world's largest oil consumer, the United States, unexpectedly experienced a decline in crude oil inventories last week. Despite the seventh consecutive week of decline in gasoline inventories, it has decreased330Ten thousand barrels, down to2.308Billion barrels, but the supply of gasoline products, which serve as a barometer of demand, has declined to900Less than ten thousand barrels. Regarding this, Mizuho Energyfuturesexecutive directorBob YawgerIt is believed that this decline indicates that the gasoline market, which has supported the recent market rebound, may have overbought. In addition, the news of a United Nations resolution drafted by the United States calling for a ceasefire has put pressure on oil prices. The resolution will allow the release of Israeli hostages and the return of hundreds of Palestinians, raising market concerns and putting pressure on oil prices.

On the other hand,3Business activity in the United States remained stable, but prices rose across the board, indicating that inflation rates may remain high after rebounding at the beginning of the year. The Federal Reserve will maintain interest rates at5.25%to5.50%The market is also encouraged by the outlook for three interest rate cuts this year, despite the range. Lowering interest rates may promote economic growth, which is good news for oil sales. Supported by strong economic data, the US dollar index surged on Thursday0.58%, recovered all the decline on Wednesday, for3The highest closing price of the month has put slight pressure on oil prices.

In summary, oil prices have been weakened by weak US gasoline demand and the UN Gaza ceasefire bill, but strong US employment data still supports oil prices; Key focus for the day will be on economic and business data from the UK and Europe, as well as speeches from Federal Reserve officials.

Press from above(Upper resistance) 85.00，85.40； From the downward direction, the lower support84.60。

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.