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Futures News, May 21st: Driven by fluctuating geopolitical tensions, the average crude oil price rose this cycle, and the domestic reference crude oil change rate turned positive. At 24:00 today (May 21st), the retail price limits for refined oil products will be raised. The retail price limits for gasoline and diesel will increase by 75 yuan and 70 yuan per ton respectively, equivalent to an increase of 0.06 yuan per liter for 92# gasoline, 95# gasoline, and 0# diesel. Future international oil prices will fluctuate repeatedly around the progress of US-Iran negotiations, and the next cycle is expected to show a weak trend and high volatility. The new cycles crude oil change rate will start with a negative value, corresponding to a decrease of 60 yuan/ton on the first day. The price adjustment window is at 24:00 on June 4th.ECB Governing Council member Rehn: Medium- to long-term inflation expectations have not deviated significantly.ECB Governing Council member Rehn: Wage growth is still slowing.ECB Governing Council member Rehn: In adverse circumstances, it may be necessary to raise interest rates to maintain credibility. We are moving towards an adverse scenario.May 21st, Futures.com analysts latest view: WTI crude oil futures prices have continued to fall sharply in recent intraday trading, mainly due to the break below the short-term upward channel. Previously, this channel dominated market movements, but the current break has exacerbated selling pressure, pushing market momentum towards a bearish trend. At the same time, the 50-day moving average (EMA) continues to exert dynamic negative pressure on prices, and the current price is trading below it, further increasing the likelihood of further declines in the near future. Meanwhile, although the Relative Strength Index (RSI) has entered oversold territory, it continues to release negative signals, reflecting weak buying momentum and the continued dominance of bears. Limited fluctuations are expected in the short term, but it is unlikely to change the current bearish pattern.

U.S. EIA Crude Oil Inventory Report

The weekly US EIA Crude oil inventory value is based on the weekly change of commercial Crude oil inventory in the United states.

Date
Former Value
(ten thousand barrels)
Actual Value
(ten thousand barrels)
Expected Value
(ten thousand barrels)
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Sources: Jin10.com