minislotmachine| Oil prices are once again undergoing extreme reversal, and the market is in a very delicate state

Energy research and development center

Return to zero mentality

Don't try to be a midline trader and want to be an intraday trader, choose a method that is comfortable for you. Focus on a model that suits your personality, no matter what method you choose to make a profit, you will not go further until you return to the right path in the end. The market is uncontrollable.MinislotmachineThe only thing we can control is ourselves, and we know how to control ourselves. the key to success lies in the ability of continuous and consistent trading and self-discipline.

Future view

Oil prices staged a very exaggerated rise and fall on Thursday, with a wave of 1 in Europe.MinislotmachineThe unilateral rebound of .5 US dollars temporarily improved market sentiment, but oil prices once again withdrew 2 US dollars from intraday highs at one point in the night trading, and several attempts to organize an overfall rebound in oil prices over the past three trading days this week were suppressed within days. The focus of oil prices kept moving down in this process, and demand for overfall rebound was constantly suppressed and delayed. The weak spot market news this week hit market confidence, and some institutions began to make a pessimistic outlook for the oil market, in an atmosphere in which investors were cautious, less willing to pursue gains and strong wait-and-see sentiment before the OPEC + ministerial meeting.

According to the recent performance of the crude oil market, it is difficult for the market to easily absorb the supply increment brought about by OPEC's withdrawal from the existing production cuts, without any impact on oil prices. More and more information is sending a message to OPEC +, asking it to be cautious about whether to extend the decision to cut production in the second half of 2024. At present, there are all kinds of speculation in the market, but there is no clear voice. The more interesting phenomenon is that although the oil price fluctuates greatly and falls generally in the past two days, the monthly difference structure does not rise and fall sharply. Recently, the performance of Shanghai crude oil futures is slightly weaker than that of European and American markets due to weak domestic demand. Although the oil market is weak at present, the rebound ability of the crude oil market is constantly accumulating. Before the OPEC + ministerial meeting in early June, taking into account the possibility of some bears leaving the market to avoid risks, the overall assessment of the current position of oil prices may rebound, it is not recommended to be overly bearish. Pay attention to the rhythm and participate cautiously.

Daily dynamics

[1] WTI's main crude oil futures closed down 0.Minislotmachine.7 US dollars, down 0.9% to 76.87 US dollars per barrel; Brent crude oil futures closed down 54 U.S. dollars, or 0.66 percent, at 81.36 U.S. dollars per barrel; and INE crude oil futures closed down 0.96 percent at 598.8 yuan.

[2] the dollar index rose 0.09% to 105.02, the Hong Kong exchange dollar rose 0.14% to 7.2429, the 10-year Treasury note fell 0.36% to 108.69, and the Dow Jones industrial average fell 1.53% to 39065.26.

Recent important news

[1] Singapore Enterprise Development Board (ESG)MinislotmachineSingapore light distillate stocks fell 720000 barrels to a four-week low of 14.536 million barrels in the week ended May 22. Singapore distillate stocks rose 823000 barrels to a two-week high of 10.938 million barrels. Singapore fuel stocks fell 3.377 million barrels to a five-and-a-half-year low of 15.778 million barrels.

[2] the amount of diesel exported from India using oil tankers decreased in May.

The number of Indian refiners using crude oil vessels to transport diesel and other products to major European markets fell in May and was close to a two-year high last month, according to trade sources and analysts. This is because rising inventories in the Antwerp-Rotterdam-Amsterdam region and unstable diesel price spreads between east and west have undermined the case for sellers to ship large amounts of industrial fuel to the west. While the increase in Indian exports to Europe in April provided a bottom line for profit margins in Asia, a drop in such exports in May could force Indian refiners to shift diesel sales back to Asia, analysts and traders said. This exacerbates the oversupply in the region.

[3] [Federation of passengers: retail volume accounts for more than 80% of the total market. The retail target of this month is slightly lower than that of the same period last year.] May 23, the latest research results show that retail volume accounts for more than 80% of the total market. This month's retail target dropped slightly by about 5% compared with the same period last year, and it is estimated that the total retail market size of narrow passenger cars this month is about 1.65 million vehicles. Year-on-year-5.3%. As the market heat in the first half of the month was significantly lower than that of the same period in previous years, terminal popularity fell after May Day, and various manufacturers issued additional promotions one after another. according to the survey results, the terminal discount of the passenger car market in mid-May was-22.2%, compared with the end of April, the overall market price is still falling. The new energy market is relatively robust. Retail sales of new energy for the whole month of May are expected to reach 770000, an increase of 13.7% over April, and the penetration rate is expected to be 46.6%, a new high.

Indonesia begins testing B40 biodiesel on generators and industrial heavy vehicles

Indonesia has begun testing the feasibility of using B40 biodiesel on building generators, the Ministry of Energy and Mineral Resources (ESDM) said on May 21. Indonesia tested the use of B40 biodiesel on 12 cars in 2022. B40 testing of generators and industrial heavy vehicles is now under way. Testing began on May 20 and will be completed on October 16. The test parameters include the ambient temperature and humidity of the generator, the fuel temperature of B40 generator, the temperature of generator oil and the voltage of generator battery.

The above chart data are from the IFIND Haitong Futures Investment Consulting Department of Mandarin Finance and Economics

The content was originally created by Haitong Futures Energy Research and Development Center.

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