Bloomberg said that as Iranian oil arrived before the expiration of the US sanctions exemptiInternational crude oil price trendson on May 2, which offset the impact of maintenance shutdowns at local refineries, crude oil imports climbed to a record high last month. It is estimated that the refining capacity is 700,000 barrels per day.
There is also a part of the trend of the market, which is to take three steps back and two steps, and move forward repeatedly, and just make a profit. As a result, the market fluctuates normally and becomes a loss. If there is a trend in the market, in terms of the trend trajectory of the trend market, the market cannot be achieved overnight. The rhythm of three steps back to two steps and three steps is very normal and normal, showing a trend of rising waves or shocks. Only in the main rise or main fall of the market can the market behave more smoothly, but the fast and smooth time is very short, so it is very rare. Most investors should not always worry about why they do not make big profits. Teachers should bring Let me do the band.
In addition, the report stated that the growth rate of global crude oil demand in 208 is expected to be 400,000 barrels/day, compared to 500,000 barrels/day; the growth rate of crude oil supply in non-OPEC countries in 208 is expected to be 870,000 barrels/day, compared to the previous forecast of 800,000 barrels. /Day; Global refinery output from July to August will hit a record high of 8 million barrels per day, but it will not be enough to cover the demand for all refinery products.
Overnight oil prices experienced the three major monthly reports of OPEC, EIA, and IEA, and WTI crude oil prices still failed to reach the $55 mark. This shows that the upward movement of international oil prices can be weakened, and oil prices still have the risk of breaking down.
The tragic drop in crude oil prices last week has surpassed all the gains accumulated in May before. After the opening of this week, the market is still further expanding its decline. It can be seen from the weekly chart that $66 will be a Watershed, below the support, crude oil may further fall to 60 US dollars, if you hold the 66 line, it may be able to control the decline within an acceptable range. And even if the market can hold on the 66-line, the recent trend may remain at the 66-line and continue to fluctuate. If the strength of the shorts rises further, there will still be the possibility of fallout.
Greed and fear. Even a smart person can become stupid when he develops fear. In the crude oil spot market, fear often makes investors' investment level abnormal, often makes mistakes, and ultimately leaInternational crude oil price trendsds to investment failure.