Price trend

On March 17, international crude oil futures prices rose sharply. The settlement price of the main U.S. WTI crude oil futures contract was reported at 102.98 US dollars/barrel, an increase of 7.94 US dollars/barrel or 8.35%; the settlement price of the main contract of Brent crude oil futures was reported at 106.64 US dollars/barrel, an increase of 8.62 US dollars/barrel or 8.79%.

Analysis review

Oil prices rebounded sharply after a continuous decline. The main reason is that market attention has returned to expectations that Russia's sanctions will affect supply shortages, after the International Energy Agency (IEA) said that sanctions will prevent Russia's 3 million barrels per day of supplies from entering the market from April. In addition, the Fed's interest rate hike boots landed, in line with market expectations. Previously, the negative interest was exhausted, and the prices of risk assets such as crude oil and the stock market rose.

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