The hottest speculators took in bargain hunting, a

2022-08-13
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Speculators bargain hunting, even if some people in the industry closed, it was only closed. The international oil price was stable at the weekend when it was powdered into plastic particles.

after the international crude oil futures fell below $48 a barrel on Friday, speculators bargain hunting, and closed at more than $48 a barrel. At the close, the June futures of West Texas light oil on the New York Mercantile Exchange were $48.67 per barrel, up $0.13 from the previous trading day, with a trading range of 47 per barrel At $95, June futures on the London International Petroleum Exchange were $48.66 a barrel, up $0.32 from the previous trading day, with a trading range of 47 per barrel $07

due to the increase in U.S. inventories and the slowdown in global demand growth, international oil prices fell by 8% this week. New York light crude oil futures in the first month of this Tuesday had reached a maximum of $53.10

the factors that depress oil prices are the rise in U.S. crude oil inventories and the monthly market report of the International Energy Agency on slowing demand growth. In addition, the strength of the US dollar also weighed on oil prices

Reuters insisted that the U.S. government data released on Wednesday showed that due to the increase in imports, U.S. crude oil inventories rose to the highest level in six years, with a development of 339.7 million barrels after more than 10 years

the International Energy Agency, based on its monthly oil market report on plastic textile cloth, believes that the slowdown in oil demand growth in China and the United States is partly due to the impact of high energy prices

speculators see the decline in oil prices as a buying opportunity, so whether oil prices will fall further is questioned. The approaching peak demand also puts the market in a dilemma. Ian Henderson, an analyst at JPMorgan Chase, said, "it is clear that inventory in North America has increased, and he believes that the focus should be on inventory, but overall, the market situation is still very tense."

on Friday, the US dollar rose to a seven month high against the euro, curbing some buying by speculators. The euro has fallen to 1.2615 against the dollar. Analysts believe that if the dollar continues to strengthen, speculators will further liquidate bulls

some analysts expect OPEC to reduce supply at its meeting in June to prevent oil prices from falling too deep in order to improve economic efficiency, but Qatar's oil minister attiya believes that this expectation is premature

two government reports released by the United States on Friday showed that American consumer interest declined in early May due to the pressure of high fuel prices. In addition, the rise in crude oil transportation costs last month raised the cost of crude oil imports in the United States

the U.S. Commodity Futures Commission said in a report released late on Friday that as of May 10, large speculative funds had liquidated almost all the net long positions in crude oil futures, and the net long positions in crude oil on the New York Mercantile Exchange fell to 85 from 8403 in the previous week. However, since Tuesday, oil prices have fallen by several dollars, which means that speculative funds have turned into net short positions in crude oil futures

David Thurtell, commodity strategist at the Commonwealth Bank of Australia, said in his monthly report released on Friday that crude oil on the New York Mercantile Exchange is unlikely to fall below $45 a barrel because this price is the target price for many market participants to buy. "Market participants buy at $45 a barrel and wait for inevitable production failures, whether it is unrest in major oil producing countries, bad weather, or sabotage," he said. He believes that WTI may hover at $50 a barrel in the second half of the year

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