Institution: U.S. gasoline consumer demand weakens

U.
S
.
gasoline consumer demand weakened, and oil prices eased slightly on Wednesday.
August WTI fell 1.
96 to 102.
26 yuan / barrel, down 1.
9%; September Brent fell 0.
43 to $106.
92 a barrel, down 0.
4%.

China's crude oil futures SC workhorse 2209 closed down 4.
4 yuan/barrel to 662.
1 yuan/barrel
.

From the news side, first, crude oil inventories fell by 446,000 barrels last week; refined oil inventories fell by 1.
295 million barrels, gasoline inventories increased by 3.
498 million barrels, and US domestic crude oil production fell by 100,000 barrels to 11.
900 million barrels per day
last week.
U.
S.
gasoline inventories have soared, suggesting that gasoline demand is weakening, but production and crude inventories have declined, with strategic inventories falling to their lowest
level since 1985.

Second, Libya's Ministry of Oil and Gas issued a statement preparing to resume oil exports
from ports that have been interrupted for nearly 3 months within two days.
According to secondary data from OPEC's monthly report, Libya's June crude oil production was 629,000 b/d
.
Libya's oil minister said in June that Libya's oil production rose to 700,000 to 800,000 b/d
.

Third, Russian President Vladimir Putin said on Wednesday that even if the Nord Stream 2 project is launched tomorrow, the gas delivered through the project will not alleviate most of Europe's gas shortages
.
Due to slow progress in the maintenance of gas turbines at compressor stations, Russia's state-owned Gazprom may cut off gas
deliveries to Europe through the existing Nord Stream pipeline.

At present, the market's idea of tight supply side is still there, forming a certain supporting effect on oil prices, if the maintenance of Nord Stream 1 can not be completed on time, it may aggravate the shortage of the market on the supply side, from the perspective of crude oil fundamentals, the current structural imbalance of the oil market has been eased, the main trend of oil price decline remains unchanged, the short-term may continue the rebound trend, the main logic of long-term short selling remains unchanged
.