Today marks the 6th working day of the new round of oil price adjustments, with an expected increase of 165 yuan/ton, which translates to an increase of 0.13 yuan/liter to 0.15 yuan/liter. Compared to yesterday, the expected increase has decreased by 35 yuan/ton, but it still far exceeds the threshold for an increase, indicating that oil prices are set to rise.
Note that oil prices remain high.
Note that international oil prices continue to decline, with US crude oil briefly falling below $70 yesterday, although it rebounded slightly by the close. Today, there is a trend of oil prices rebounding, and there are signs of increased tension in the Middle East.
US crude oil closed down by 0.47% yesterday, at $70.10 per barrel, while Brent crude closed down by 0.25%, at $74.44 per barrel. For today, international oil prices are temporarily on the rise, with US crude oil temporarily reported at $70.96 per barrel, an increase of 0.35%.
The decline in oil prices yesterday was still due to the market's bearish outlook on the future demand for crude oil. However, the drawdown in API crude oil inventories yesterday slightly limited the decline in oil prices. Additionally, Israel's regular attacks on Lebanon have further intensified the tension in the Middle East.
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The NCE platform published a forecast yesterday, predicting that by next year, investments in oil and natural gas by the world's 23 largest producers will increase by more than 60%. This means that the market's dependence on crude oil and natural gas remains high, and demand is still strong.
UBS analysts wrote in a report, "We expect uncertainty and volatility to rise until the next US government is determined," suggesting that gold and oil may be "effective portfolio hedges."
In summary, international oil prices will maintain a volatile trend in the short term. The unstable situation continues to support oil prices, but the market is also bearish on demand. Investors who need to make decisions may wait for today's evening EIA crude oil inventory report, which may provide some assistance.