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On January 21st, the Shanghai Futures Exchange (SHFE) warehouse receipts and their changes were as follows: 1. Hot-rolled coil futures warehouse receipts: 189,902 tons, a decrease of 300 tons compared to the previous trading day; 2. Copper futures warehouse receipts: 145,581 tons, a decrease of 2,612 tons compared to the previous trading day; 3. Petroleum asphalt plant warehouse futures warehouse receipts: 30,810 tons, unchanged compared to the previous trading day; 4. Petroleum asphalt warehouse futures warehouse receipts: 15,010 tons, a decrease of 1,100 tons compared to the previous trading day; 5. Alumina futures warehouse receipts: 119,128 tons, an increase of 3,012 tons compared to the previous trading day; 6. Zinc futures warehouse receipts: 31,047 tons, a decrease of 1,338 tons compared to the previous trading day; 7. Natural rubber futures warehouse receipts: 109,870 tons, unchanged compared to the previous trading day; 8. Silver futures warehouse receipts: 600,779 kg, a decrease of 17,803 kg compared to the previous trading day; 9. Butadiene rubber futures warehouse receipts: 25,630 tons, up 1,300 tons from the previous trading day; 10. Medium-sulfur crude oil futures warehouse receipts: 3,464,000 barrels, unchanged from the previous trading day; 11. Lead futures warehouse receipts: 27,564 tons, unchanged from the previous trading day; 12. TSR20 rubber futures warehouse receipts: 55,742 tons, down 1,008 tons from the previous trading day; 13. Rebar warehouse futures warehouse receipts: 28,244 tons, unchanged from the previous trading day; 14. Pulp warehouse futures warehouse receipts: 128,554 tons, unchanged from the previous trading day; 15. Pulp mill warehouse futures warehouse receipts: 11,000 tons, unchanged from the previous trading day; 16. International copper futures warehouse receipts: 10,760 tons, down 501 tons from the previous trading day; 17. Fuel oil futures warehouse receipts: 0 tons, unchanged from the previous trading day; 18. Gold futures warehouse receipts were 99,990 kg, unchanged from the previous trading day; 19. Stainless steel warehouse futures warehouse receipts were 38,196 tons, unchanged from the previous trading day; 20. Nickel futures warehouse receipts were 41,152 tons, a decrease of 326 tons from the previous trading day; 21. Tin futures warehouse receipts were 8,668 tons, a decrease of 192 tons from the previous trading day; 22. Low-sulfur fuel oil warehouse futures warehouse receipts were 13,000 tons, unchanged from the previous trading day; 23. Aluminum futures warehouse receipts were 138,755 tons, a decrease of 1,196 tons from the previous trading day.The onshore yuan closed at 6.9650 against the US dollar at 16:30 on January 21, down 47 points from the previous trading day.European Commission President Ursula von der Leyen: Europe must be prepared to change at a faster pace to become more independent.European Commission President Ursula von der Leyen: The EU’s first priority in Greenland will be to significantly increase investment to support the region’s economy and infrastructure development.European Commission President Ursula von der Leyen: We need to pay close attention to Ukraine more than ever before.

WTI Price Analysis: Testing the $80 level versus the broad USD

Daniel Rogers

Apr 11, 2023 14:20

 截屏2023-01-13 下午5.17.06.png

 

On Monday, crude oil prices are lower as a risk-averse sentiment underpins the U.S. dollar. The price of the black gold is a few cents above its intraday low of $79.71 per barrel and is approaching the range's bottom.

 

Early in April, the Organization of the Oil Exporting Countries and Allies (OPEC+) astonished market participants by announcing a 1.16 million-barrel-per-day reduction in their oil output, which pushed West Texas Intermediate (WTI) approximately 5.5% higher on April 3 and left a $4 void. Since the announcement, WTI has been consolidating between $79 and $81.80, unable to find fresh directionality.

 

Higher energy prices have contributed to inflation's meteoric rise, and OPEC+'s decision came as a complete surprise, reigniting concerns not only about price pressure but also about economic growth.


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