International market: At the close of eastern time on Wednesday (September 7), international crude oil closed down, of which WTI crude oil futures closed down 5.68% at US$81.94/barrel; Brent crude oil futures closed down 5.20% at US$88.00/barrel .
Market news and data summary:
1. The U.S. API crude oil inventory in the week to September 2 was 3.645 million barrels, expected to be -733,000 barrels, and the previous value of 593,000 barrels. The U.S. API Cushing crude oil inventories were -772,000 barrels in the week to September 2, and the previous value was -599,000 barrels. API gasoline inventories in the United States to September 2 were -836,000 barrels, expected -1.6 million barrels, and the previous value was -3.411 million barrels. The U.S. API refined oil inventory was 1.833 million barrels in the week to September 2, compared with an expected 850,000 barrels, and the previous value of -1.726 million barrels.
2. According to CME’s “Federal Reserve Watch”: the probability of the Fed raising interest rates by 50 basis points by September is 24%, and the probability of raising interest rates by 75 basis points is 76%; the probability of accumulative rate hikes by 75 basis points by November is 1.0%. The probability of a cumulative rate hike of 100 basis points is 26.2%, and the probability of a cumulative rate hike of 125 basis points is 72.7%.
3. EIA short-term energy outlook report: The growth rate of global crude oil demand in 2022 is expected to be 2.1 million barrels per day, compared with 2.08 million barrels per day previously.