SunSirs: China Domestic SC Crude Oil Futures Fell on September 21
September 22 2023 10:04:40 SunSirs (Selena)
Analysis: Overnight crude oil futures on Wednesday fell under pressure. The settlement price of the main contract for WTI crude oil futures in the United States was $89.66 per barrel, a decrease of $0.82 or 1.0%. The settlement price of the main contract for Brent crude oil futures was $93.53 per barrel, a decrease of $0.81 or 0.9%. Affected by this, on September 21st, the domestic SC crude oil market followed a downward trend, with the main contract settling at 693.2 RMB/barrel, a decrease of 0.8%. The Federal Reserve has decided to maintain interest rates unchanged as expected by the market, but its attitude has been hawkish, with the possibility of interest rate hikes expected to continue within the year. Energy demand expectations are being suppressed, and oil prices are under pressure.
Prediction: The expectation of tightening the supply side remains unchanged, the demand expectation slows down, the supply-demand game continues, and the oil market may maintain high volatility.
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