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Crude oil continues to be under pressure, and short-term storage is expected to be short

 Last Update: 2022-11-15
 Source: Internet
 Author: User

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Crude oil continues to be under pressure, and short-term storage is expected to be short

Fundamental Summary: Standard Chartered analysts said that international oil prices continued to plummet, due to an unexpected increase in crude oil production and another round of selling in the Strategic Petroleum Reserve, but the oil market did not collapse, but only reacted
to oversupply.
The global oil market is currently in a phase of oversupply, with an oil surplus of 1.
82 million b/d expected in the third quarter

Operation suggestion: crude oil 11 contract to see the intraday operating range between 675-651, continue to be pressured to adjust, but the technical form does not fall below 650 short-term disk in the long guard, high selling participation in the combined range cautious treatment, all day to see the end of the third quarter rebound height is limited, it is easier to rush higher and fall down.

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