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WTI oil price in the United States continues to compete for $100, and these factors will dominate the future breakthrough!
发布时间：2022-08-25 浏览：119
The trend of international oil prices has narrowed, and the fundamental guidance is very critical under the interweaving of long and short signals.
The closure and control of the epidemic in China has led to weak demand side. China is still the largest oil importer and consumer, and the closure of the epidemic has seriously affected the economic momentum,
Thus, the demand for crude oil was depressed, and the trend of oil price was suppressed.
Increasing oil supply in the United States depresses oil prices on the supply side. The United States Joint International Energy Agency (IEA) has successively released more than 200million barrels of oil reserves, which has hit the short-term sentiment of the oil market. At the same time, according to Baker Hughes drilling data in recent weeks, American producers chose to increase production in order to fill the market share vacated by sanctions against Russia. This is not over yet. The significant rise in the dollar has suppressed commodity prices in dollar terms.
In addition, it is worth noting that European countries still have differences on the full implementation of the Russian oil ban, which leaves some room for oil price fluctuations; India, as the third largest oil importer in the world, firmly imported Russian crude oil, which to a certain extent hedged the bad news on the supply side, keeping the US crude oil price around $100.
OPEC's attitude is quite important. Up to now, due to the political differences between Saudi Arabia and the United States and the huge benefits brought by the rise in oil prices, the Gulf countries have rejected the demand of the United States for production increase, which has laid an important foundation for stabilizing the overall strong performance of the oil market. The Iranian nuclear agreement is still full of uncertainty, and the port blockade caused by the civil strife in Libya has not been amplified, which requires further observation.
In general, the fundamentals of the oil market remain bearish in the short term and bullish in the medium and long term. It is completely bearish on oil prices, which is contrary to the market reality, and should be treated with caution. The resumption and rise of oil prices will definitely require key factors such as the turnaround of China's epidemic, Russia's interruption of European energy supply, and OPEC's support for oil prices. The current sideways trading is to pave the way for the next trend.
The chart trend of WTI crude oil shows that the oil price is in consolidation. As the trend narrows, the breakthrough time is coming, and the breakthrough direction will be the direction of the next trend.
At present, WTI has stopped falling near us $93.00 several times, indicating that this line is the key support. If it falls below US $93.00 effectively, it will lead to a greater decline in oil prices,
The main reference support below is $85.00; The oil price has gradually decreased since the peak of $130.00, showing weak buying,
It needs to break through $105 effectively to break the repression and restart the rise. After breaking through $105, show 110 will confirm to start a new round of rise. Therefore, focus on 105 and 93 prices.