According to the crude oil change rate data on the second working day of the new round of oil price adjustment (September 22), is currently expected to lower the oil price by 85 yuan/ton , which is calculated as a decrease in oil price by 0.06 yuan/liter.
On Friday (September 23), international oil prices fell, concerns about recession and the dollar strengthened. Supply concerns arising from Russia's mobilization and the clear deadlock in negotiations on the Iran nuclear deal restart process have limited the decline.
Beijing time 16:54, NYMEX crude oil futures fell 1.92% to US$81.89 per barrel; ICE Brent crude oil futures fell 1.74% to US$87.96 per barrel. NYMEX crude oil hit a new low of $81.51 per barrel since September 8. "The risk of global recession overshadows oil supply issues after the accelerated rate hikes of major central banks
CMC Markets analyst Tina Teng said: "After the major central bank accelerates interest rate hikes, the risk of global recession overshadows oil supply issues despite the recent escalation of the Russian-Ukrainian war. However, a sharp decline in U.S. strategic reserves and a decrease in inventory may still support oil prices at some point, as the spot market still inevitably has insufficient supply issues, and the Iran nuclear deal restarts are at a deadlock." She refers to the U.S. strategic oil reserves fell to their lowest levels since 1984 last week.
The market now clearly understands the intention of Feder : inflation is too high and it is likely that it will take a recession to fall. Following the Federal Reserve, many central banks around the world raised interest rates on Thursday (September 22), triggering concerns about a global recession. "Crude oil prices remain volatile as energy traders struggle to cope with the deteriorating demand outlook, which is still susceptible to supply shortages. Supply risks and tight market conditions should provide some support for oil prices above $80, but the global recession will keep prices down."
High-level market analyst Edward Moya said in a report: "At a special meeting during the United Nations talks in New York, the EU has agreed to prepare for new sanctions on Russia, including stricter restrictions on high-tech exports to Russia and the imposition of sanctions on more individuals in response to Moscow's escalation of the Ukrainian war. The day before, Russian President Putin announced that he would launch some mobilization for the war and significantly increase his troops.
Russian Finance Minister Siluanov said on Thursday that Russia's new budget draft aims to attract more money from oil and gas producers as part of the government's efforts to address the budget deficit amid high prices for commodities .
U.S. State Department A senior official said efforts to restart the Iran nuclear agreement in 2015 have stalled due to the insistence on ending investigations by the UN nuclear watchdog. This downplays the expectation of Iranian crude oil to return to the international market as soon as possible.
The US official told reporters on the sidelines of United Nations General Assembly that because Iran insisted on his position, "we hit a wall." He also said nothing happened this week to show Iran's willingness to change its position.
