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Futures News on January 24: On Thursday, international oil prices accelerated their decline, with the main WTI crude oil closing down 1.5% and the main Brent crude oil closing down 2.28%. According to EIA data, U.S. crude oil inventories fell by 1 million barrels in the week ending January 17, but lower than the 1.6 million barrel drop expected by analysts. At the same time, the U.S. President said he would ask Saudi Arabia and OPEC to take measures to lower oil prices. This statement has put some pressure on oil prices, and oil prices may continue to be weak in the short term. In the medium and long term, Trumps oil production increase policy and the Russian Presidents recent statement that he is willing to negotiate a ceasefire with the United States on the Russia-Ukraine conflict are expected to have a profound impact on oil prices. If both can be implemented smoothly, there is a high probability that oil prices will be under pressure in the medium and long term.The Hang Seng Index in Hong Kong opened up 142.29 points, or 0.72%, at 19,842.85 points on January 24 (Friday); the Hang Seng Technology Index opened up 29.86 points, or 0.66%, at 4,545.34 points on January 24 (Friday); the CSI 300 Index opened up 38.61 points, or 0.54%, at 7,202.83 points on January 24 (Friday); the H-share Index opened down 1.54 points, or 0.04%, at 3,570.44 points on January 24 (Friday).USD/CNY reported 7.1705, down 3 points (RMB appreciation); EUR/CNY reported 7.5062, up 44 points; HKD/CNY reported 0.92044, down 5.3 points; GBP/CNY reported 8.9011, up 264 points; AUD/CNY reported 4.5362, up 84 points; CAD/CNY reported 5.0195, up 30 points; 100 JPY/CNY reported 4.6337, up 99 points; RMB/RUB reported 13.7162, up 766 points; NZD/CNY reported 4.1063, up 83 points; RMB/RMB reported 0.61616, up 2.6 points; CHF/CNY reported 7.9315, down 117 points; SGD/CNY reported 5.3178, down 6 points.Hang Seng Index futures opened up 0.35% at 19,804 points, 101 points higher than the previous session.Tesla (TSLA.O) launched its new Model Y long-range all-wheel drive version in the United States, with a starting price of $46,490.

Look at $82.75 on NYMEX crude oil

Oct 26, 2021 11:02

On Tuesday (October 12), international oil prices continued their upward momentum in the previous three trading days. Analysts said that the rebound in global demand and energy shortages in economies from Europe to Asia have driven oil prices to strengthen rapidly. NYMEX crude oil looks at US$82.75.

GMT+8 13:57, NYMEX crude oil futures rose 0.43% to 80.87 US dollars per barrel; ICE Brent crude oil futures rose 0.50% to 84.07 US dollars per barrel.


Overnight, the two cities respectively set a new high of US$82.18/barrel since October 29, 2014 and a new high of US$84.60/barrel since October 10, 2018.

Craig Erlam, senior market analyst at OANDA, said: "There is still a lot of momentum behind the oil rally, and the fundamentals are still extremely favorable. Even if we see oil prices return to triple digits later this year, it will not surprise us."

Driven by energy shortages in Asia, Europe and the United States, electricity prices have risen to record highs in recent weeks. The surge in natural gas prices has also prompted power plants to switch fuels from cleaner natural gas to oil.

Qatar, the world's largest producer of liquefied natural gas (LNG), told customers on Monday that it cannot help lower energy prices and supply more fuel to the market. Analysts estimate that the shift from natural gas to oil-based power generation may increase crude oil demand by 250,000 to 750,000 barrels per day.

On the daily chart, U.S. oil is in an upward ((3)) wave that started from $61.74, breaking through the 23.6% target of $78.37. The upper resistance looks at the $80 mark and ((3)) the 38.2% target of 88.66. Dollar.

On the hourly chart, oil prices are in five upward waves starting from $74.97, and the upper resistance looks at the 161.8% target of $82.75. Wave 5 is a sub-wave of the up (1) wave that started at $61.74. (1) Waves are the sub-waves of ((3)) waves.

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