December 9, 2022 06:44 Market information Source: Energy R&D Center
No matter what you do in transactions, patience requires will and cultivation. Due to different cultivation and different personalities, some people are anxious and unable to wait, and they are annoyed if they are slow! It is not only difficult to do good things, but also harms the body. Life requires patience! In the face of difficulties and setbacks, you must be patient, calm, and patient. Patience allows you to think positively, use your intelligence and talents to overcome difficulties and overcome setbacks.
For investors who are trying to go long, there is nothing more hurting morale than this kind of market. The WTI in the night market once rose by nearly 5%, but in the end it was another surged and fell back by , and the negative line closed. As for the long upper shadow line, , it was even more eye-catching. Such a large fluctuation in oil prices made it difficult for investors to control. On the one hand, weak demand suppressed the oil market structure continues to weaken, and on the other hand, short-term oil prices continue to plummet, after the market has demand for oversold repair. In a complex situation, investors are cautious and sensitive when evaluating the future market. After a leak accident in the evening, the U.S. WTI crude oil surged sharply to lead the oil market to rebound, but this was a news that affected regional supply and responded to the international market in a mixed response. Brent crude oil rebounded only half of the U.S. WTI crude oil, which had a smaller impact on my country's SC crude oil. But after two hours of rebound, a high-level decline occurred, and finally completely gave up the intraday gain . This performance shows the fragility of market confidence. After the seemingly continuous negative impact, the short-term influencing factors cannot effectively boost market confidence and attract funds to continue to chase high prices.
At present, oil prices are close to the target range of $67-70 for the Biden administration to supplement its strategic reserves. There are some possible potential external interference in the market. The market may fluctuate violently at any time in the next period of time. Next week, the Federal Reserve will once again enter for 2 weeks. The influencing factors will be further complicated. Before market sentiment does not recover and the market does not form an effective signal of stabilization and stopping the decline, it is recommended to participate patiently and cautiously.
【1】WTI's main crude oil futures closed down $0.55, or 0.76%, to $71.46/barrel; Brent 's main crude oil futures closed down $1.02, or 1.32%, to $76.15/barrel; INE's crude oil futures closed down 1.6%, to $505.4 yuan.
【2】 USD index fell 0.36% to 104.82; the Hong Kong Stock Exchange dollar fell 0.13% to 6.9614; the US 10-year Treasury bond fell 0% to 115.06; the Dow Jones Industrial Index rose 0.55% to 33,781.48.
Recent news
【1】A leak accident in Nebraska, USA caused the closure of the Keystone oil pipeline.
Canadian TC Energy said Thursday it closed the Keystone pipeline of 622,000 barrels a day and responded to a stream about 20 miles south of Steele, Nebraska to release oil. An emergency shutdown and response was initiated at about 8 pm. The company said in a Dec. 7 press release that the alarm had sounded after detecting a drop in pipeline pressure. The affected portion of the pipeline has been isolated and oil barriers are deployed to control leakage migration downstream, with a slight rebound.
Source: Russia's oil loading in December was hindered by the storm, and two tankers that arrived at the port of Novorossiysk before the price cap was implemented were not loaded due to the storm.
The Turkish Ministry of Transport and Infrastructure issued a statement on December 8 local time saying that tankers that cannot provide valid insurance certificates shall not pass through the Turkish Strait. The statement pointed out that due to sanctions by Western countries, some tanker insurance has expired. "If any catastrophic accident occurs through the Turkish Strait and is not covered by the insurance company, Turkey will not be able to bear the corresponding risks." Turkey has no obligation to implement sanctions decisions by other countries and international organizations except the UN Security Council.Turkey said that the means of some ships putting pressure on Türkiye on the grounds of congestion is unacceptable. .
【2】The price of gasoline in the United States has dropped below the average level in 2021;
According to data from the gasoline price tracking application GasBuddy, the price of a gallon of ordinary gasoline in the United States is now lower than the average level in 2021, indicating that some pressure in the gasoline market may be alleviated. The latest price of gasoline was $3.32 per gallon, down 3.6 cents from last year's average price of $3.36. It is reported that the average gasoline price in 50 states across the United States has seen a monthly decline, with Wisconsin , Indiana and California falling the most. analysts expect gasoline prices to continue to fall for the rest of the year, and by Christmas, the national average gasoline price in the United States will drop below $3 per gallon.
【3】Many sets of industry data disclosed in recent days have shown that Russia's crude oil exports have still shown a significant decline in a short period of time.
Data from both data providers showed a significant decrease in Russian crude oil exports, although the amplitude varies. Russia's sea transportation exports fell by nearly 500,000 barrels per day on Tuesday, down about 16% from the November average of 3.08 million barrels per day, according to Kpler, an analysis agency for commodity .
In addition, TankerTrackers, which tracks ships using signals and satellite images, showed that Russia's daily crude oil barrels exported by it fell by nearly 50%. Shipments from the Black Sea and the Baltic ports in Russia accounted for the majority of the decline. TankerTrackers co-founder Samir Madani said this is a rather significant decline. He pointed out that before, Russia's oil exports have been steadily rising, and now the two most obvious export obstacles occur in the Black Sea and the Baltic Sea, the Pacific and Arctic ports are still unaffected, at least for now. In addition to a sharp drop in crude oil exports, more than a dozen tankers passing through the Bosphorus and the Dardanelles Strait of Turkey also encountered traffic jams last weekend and early this week because the Turkish government insisted that all ships provide new insurance certificates.
