5.4 Market View on Oil Prices


WTI crude oil opened lower at $94.5 per barrel this morning, then slightly rebounded to around $94.8. The market is gradually digesting the premium caused by earlier geopolitical tensions, with some funds taking profits; at the same time, concerns over demand due to the slowdown in global economic recovery still suppress oil prices.

Uncertainty in the Middle East situation still exists, serving as a potential variable supporting oil prices.

The main domestic crude oil futures contract opened lower in the morning and is currently trading around 636 yuan, with limited overall volatility, mainly following international oil price movements.
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