crude oil trend review: crude oil prices roseon July 4, local time,as supply concerns caused by OPEC
A Reuters survey found that in June, OPEC’s output increase target was not met. OPEC member Libya said oil production fell by 865,000 barrels a day.
The Libi Adam authorities declared force majeure at the ports of ES Sidr and RAS lanuf and the El feel oil field last Thursday.
This week’s strikes could reduce supplies from Norway, the largest oil producer in Western Europe, and cut overall oil production by about 8 percent, exacerbating a potential supply woes.
Crude oil trend analysis : Yesterday, oil prices stabilized at the 107.3 mark as a whole to meet the shock recovery and closed up. The price was slightly higher in Asia and Europe and the pressure at the 109 mark fluctuated within a narrow range. In the afternoon, it stabilized at 107.3 and rebounded strongly and oscillated higher. In the evening, the price accelerated to break through 110 strong close.
The daily K line closed in shock and rebounded in Zhongyang, and rebounded to a shock and closed up for two consecutive trading days. Today, the Asian market stabilized again and continued to pierce the high 111 line. In the short term, there is an expectation of further rebound and upward, and the upper position is expected to further push up the previous day of the test. The level opened and fell close to 112.5-113. Today, the bottom support was worried that the top and bottom of the line changed 109 points yesterday. If this position stabilizes today, it can continue to see more shocks and rise.
Crude oil operation suggestion:
The top is concerned about the 112.5 line to suppress the short, and continue to maintain the rhythm of the long-short shock interval unchanged.
Crude oil investment today focuses on:
09:45 China’s June Caixin service sector and composite PMI;
12:30 RBA announces interest rate decision;
14:45 French May industrial output, manufacturing output;
15:45 Italy June service sector and composite PMI;
15:50 French June service sector and composite PMI final value;
15:55 Germany’s June service sector and composite PMI final value;
16:00 Eurozone June services and composite PMI final values;
16:30 UK June services and composite PMI final values;
17:30 Bank of England announces July financial stability report;
18:00 Bank of England holds a press conference on the Financial Stability Report;
18:30 OPEC Secretary-General Barkindo delivered a speech at the Nigeria Oil and Gas Conference;
20:30 Canada May Construction Permit;
22:00 U.S. May durable goods orders final value, May factory orders;
The next day at 00:30 German Chancellor Scholz delivered a speech