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U.S. crude oil monthly futures closed down last Friday (month day). The U.S. dollar, Or .%, quoted at .USD/barrel, up .% last week. Brent crude oil monthly futures closed down .USD, or .%, quoted at .USD/barrel, slightly up .% last week.
Last week, the crude oil market ushered in a series of major events: monthly reports, C monthly reports, C oil-producing countries and non-oil-producing countries held informal meetings in Istanbul, etc., and oil prices experienced a week of turmoil. The production limit agreement reached by C helped oil prices rebound for the fourth consecutive week, but the renewed increase in the number of active oil drilling rigs in the United States has made the market more worried about the rebound in shale oil production. At the same time, the crude oil production of C and Russia is also at high levels, and the fundamentals The situation remains weak.
Last Monday, as Russia expressed its readiness to accept the production freeze agreement reached by C, international oil prices jumped by 1% and hit a one-year high. Brent crude oil regained the US dollar mark, and crude oil regained the US dollar mark. However, many negative factors emerged later.
On Tuesday, the International Energy Agency's latest monthly report stated that monthly production rose to a record high. Coupled with rising market profit-taking sentiment, international oil prices retreated from their monthly highs.
After the informal meeting between C oil-producing countries and non-oil-producing countries ended in Istanbul on Wednesday, although they all expressed positive results from the meeting, they were only verbal speeches and did not introduce any substantive policies. On the same day, C’s latest monthly report stated that according to secondary data, C’s oil production increased by 10,000 barrels/day to 10,000 barrels/day, and the monthly revision was . It will increase from 10,000 barrels to 10,000 barrels per day. The above news dampened confidence in the oil market, with U.S. oil and Brent oil falling by more than % that day.
On Thursday, the American Petroleum Institute released a report saying that crude oil inventories unexpectedly increased by 20,000 barrels in the week ending on March 1st, and the expected value was an increase of 10,000 barrels. Later, the U.S. Energy Information Administration released data saying that as of March 31, That week, U.S. crude oil inventories increased by 10,000 barrels. Market estimates were for an increase of 10,000 barrels. The increase was the largest since the week of March. However, sharp declines in U.S. refined oil and gasoline inventories offset the pressure from the first increase in crude oil inventories in six weeks. Oil prices fell early in the report before rebounding.
In the early hours of Saturday morning, Baker Hughes released data showing that the number of active oil rigs drilling in the United States increased from mouth to mouth in the week ended March 1, marking the fourth weekly increase, the longest period since oil prices began to plummet in 2018.
>The business scope of the trading center is "precious metal trading services (excluding gold). Precious metal spot wholesale and retail. Deferred delivery. It also provides electronic trading platforms, the aforementioned related consulting services and other permitted businesses". Precious metals spot-listed hybrid trading model carries out delayed delivery transactions of spot and spot derivatives. The trading hours are in line with the international market. Currently, the varieties listed for trading in the trading center include silver, platinum, palladium, new alloys and other precious metals
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