International oil price dynamics

last Monday (September 3) coincided with the U.SLabor Day holiday, with electronic prices holding steady at $74.04 a barrelHurricane Felix weakened to a Category 4 storm monday en route to the caribbean's northern coast of Honduras, according to the latest newsSome Oil and gas companies in Mexico remain closely focused on the hurricane's further development, but have canceled plans to evacuate workersIn the run-up to the september 11th meeting of OPEC, traders have said opec may not increase existing exports, coupled with the possibility of frequent hurricanes in the current period, short-term crude oil prices are not much room to fallMonday (September 3) as crude oil futures closed higher on the New York Mercantile Exchange, Fuel oil prices rose sharply in Singapore and markets held steady as some carry-on shipments were likely to be delayed by bad weather in the Caribbeanspot market, Singapore's benchmark 180CST fuel oil price rose $6.10 to $386.1 a tonne from Friday's session, while 380CST fuel oil rose $4.75 to $375 a tonneBP continued to sell prices in the spot market, selling a ship to Xinglong on September 18-22 with 180CST fuel tankers at a price of $3.00 per ton for Singapore."the paper market, the September 180CST fuel oil paper trading was very active, reportedly trading at $384.25-384.75 a tonneTraders said short-term markets were tight, with some fuel tankers due to arrive in the second half of August delayed due to the harsh weather in the CaribbeanIran's spot ship exports have declined due to high consumption of domestic power plantsLocal market demand is also said to be stable, putting upward pressure on the 380CST spot pricethe previous period today open low, the period price lost the external market guidance, oscillation lowerThe main 711 contract 3479 opened, after the high 3485 oscillated back, down 3458, the end of the closing low 3461Intraday turnover of 13,512 lots, positions decreased by 3054 lots to 38126 lotsTechnically, there is strong pressure on the 30-day moving average, and the Bollinger Channel continues to pour down, nextPage combined, the pre-rally of fuel oil started spot demand and stimulated traders to enter the market for information At the same time, due to the serious inversion of the previous period, Whampoa inventory low, the recent volume of less, leading to the market tend to become nervous However, it should be noted that the Whampoa spot price increase significantly lags behind the external price, resulting in a further widening of the spot upside down range, squeezing traders' profits and affordability At the same time, the outer crude oil in the loss of Hurricane Felix support, facing the "theme vacuum" after the labor day gasoline consumption theme officially ended, the market empty atmosphere increased In particular, CFTC positions show that net long positions continue to decline, speculative funds have reduced long positions, increase short positions In the last period of today's market, more than 100 lots of turnover, basically to "short open positions" mainly, showing that the main short is re-collecting chips Therefore, operationally, the individual believes that you can consider reducing the number of long orders near 3480, and waiting for the performance of the technical resistance level : OPEC raised its basket of oil prices to $69.60 a barrel on Friday India's crude oil imports rose 9 percent to $5.05 billion in July Asian light distillate prices fell as high regional inventories squeezed October demand According to Bloomberg, due to the worldwide refinery generally increase production capacity and processing capacity, the future fuel oil supply is expected to be gradually reduced with the refinery refined refined oil levels At the same time, demand for marine fuel oil is expected to continue to increase as the transport industry booms As a result, the market has become more nervous for a long time the rapid increase in crude oil transfer volume in West Africa due to the recent decline in prices, increased refinery profits, and freight costs fell from the previous the continued decline in the original spot prices of the United States, due to the narrowing of the WTI-Brent spread and the increase in Canadian crude oil imports last Monday (September 3) coincided with the U.S Labor Day holiday, with electronic prices holding steady at $74.04 a barrel Hurricane Felix weakened to a Category 4 storm monday en route to the caribbean's northern coast of Honduras, according to the latest news Some Oil and gas companies in Mexico remain closely focused on the hurricane's further development, but have canceled plans to evacuate workers In the run-up to the september 11th meeting of OPEC, traders have said opec may not increase existing exports, coupled with the possibility of frequent hurricanes in the current period, short-term crude oil prices are not much room to fall Monday (September 3) as crude oil futures closed higher on the New York Mercantile Exchange, Fuel oil prices rose sharply in Singapore and markets held steady as some carry-on shipments were likely to be delayed by bad weather in the Caribbean spot market, Singapore's benchmark 180CST fuel oil price rose $6.10 to $386.1 a tonne from Friday's session, while 380CST fuel oil rose $4.75 to $375 a tonne BP continued to sell prices in the spot market, selling a ship to Xinglong on September 18-22 with 180CST fuel tankers at a price of $3.00 per ton for Singapore." the paper market, the September 180CST fuel oil paper trading was very active, reportedly trading at $384.25-384.75 a tonne Traders said short-term markets were tight, with some fuel tankers due to arrive in the second half of August delayed due to the harsh weather in the Caribbean Iran's spot ship exports have declined due to high consumption of domestic power plants Local market demand is also said to be stable, putting upward pressure on the 380CST spot price the previous period today open low, the period price lost the external market guidance, oscillation lower The main 711 contract 3479 opened, after the high 3485 oscillated back, down 3458, the end of the closing low 3461 Intraday turnover of 13,512 lots, positions decreased by 3054 lots to 38126 lots Technically, there is strong pressure on the 30-day moving average, and the Bollinger Channel continues to pour down , nextPage combined, the pre-rally of fuel oil started spot demand and stimulated traders to enter the market for information At the same time, due to the serious inversion of the previous period, Whampoa inventory low, the recent volume of less, leading to the market tend to become nervous However, it should be noted that the Whampoa spot price increase significantly lags behind the external price, resulting in a further widening of the spot upside down range, squeezing traders' profits and affordability At the same time, the outer crude oil in the loss of Hurricane Felix support, facing the "theme vacuum" after the labor day gasoline consumption theme officially ended, the market empty atmosphere increased In particular, CFTC positions show that net long positions continue to decline, speculative funds have reduced long positions, increase short positions In the last period of today's market, more than 100 lots of turnover, basically to "short open positions" mainly, showing that the main short is re-collecting chips Therefore, operationally, the individual believes that you can consider reducing the number of long orders near 3480, and waiting for the performance of the technical resistance level : OPEC raised its basket of oil prices to $69.60 a barrel on Friday India's crude oil imports rose 9 percent to $5.05 billion in July Asian light distillate prices fell as high regional inventories squeezed October demand According to Bloomberg, due to the worldwide refinery generally increase production capacity and processing capacity, the future fuel oil supply is expected to be gradually reduced with the refinery refined refined oil levels At the same time, demand for marine fuel oil is expected to continue to increase as the transport industry booms As a result, the market has become more nervous for a long time the rapid increase in crude oil transfer volume in West Africa due to the recent decline in prices, increased refinery profits, and freight costs fell from the previous the continued decline in the original spot prices of the United States, due to the narrowing of the WTI-Brent spread and the increase in Canadian crude oil imports (unknown)