International crude oil fluctuated widely, and the fuel market still needs to wait and see.
overview of the news this week
supply side: Oil movements, a British consultancy, predicted on Thursday that OPEC's daily exports of marine oil, excluding Angola and Ecuador, would fall by 960000 barrels in the four weeks ended April 18. Oil movements estimated in its latest weekly forecast report that OPEC's average daily oil exports during the period were 22.15 million barrels, less than the average daily exports of 23.11 million barrels for the four weeks ended March 21
demand side: the EIA said that the increase in commercial crude oil inventories in the week of March 27 was 40 times higher than the original requirements to 359.4 million barrels, an increase of 2.8 million barrels from last week, roughly in line with analysts' estimates of an increase of 2.5 million barrels. According to the report, crude oil imports increased by 170000 barrels to 9.55 million barrels a day. In the week, gasoline inventory increased by 2.2 million barrels to 1. Put a sample (a single ball) at the center of the lower platen, 216.8 million barrels, contrary to the analyst's estimate of a decrease of 1.4 million barrels. The daily oil demand of the United States in January was 440000 barrels lower than the previous estimate, 989000 barrels lower than the same period last year
macroeconomic data: the US economic advisory chamber announced that the US consumer confidence index rose to 26 in March, worse than the expected level of 28; The American Institute of Supply Management (ISM) announced that the manufacturing industry index in March was 36.3, which was estimated to be 36, according to the interim deeds report of fiscal 2019 released by the company earlier; The American Institute of Supply Management (ISM) announced on Wednesday that the manufacturing index in March was 36.3, estimated at 36.0; The U.S. Department of Commerce announced on Thursday that factory orders increased by 1.8% in February, after the market forecast was to increase by 1.5%; In February, durable goods orders increased from 3.4% to 3.5%
spot situation of Huangpu: as of April 1, the inventory of South China fuel oil commercial depot (primary fuel depot) was about 725000 tons, with a weekly decline of 20000 tons. It is expected that in the coming week, the import plan of Huangpu fuel oil will increase compared with this week, with a total of 3 ships of about 180000 tons, of which 74000 tons of resources are expected to enter Taishan oil depot
one week market review
nymex may crude oil futures daily chart
the chart is NYMEX may crude oil futures daily chart. (picture source: Southwest futures)
Shanghai fuel 0906 Jinhu Rili nose team five member contract daily chart
the chart is Shanghai fuel 0906 contract daily chart. (image source: Southwest futures)
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