Crude oil bearish is frequent, causing short-term disk pressure

Crude oil bearish is frequent, causing short-term disk pressure

Fundamental review: According to the announcement, from 5 o'clock on March 28, Shanghai will implement nucleic acid screening
in batches with the Huangpu River as the boundary.
In the closed area, the residential community implements closed management, all personnel do not leave their homes, and personnel and vehicles can only enter and exit
.
In the lockdown area, the operation of
buses, subways, ferries, taxis, and ride-hailing services will be suspended.

Bjarne Schieldrop, chief commodities analyst at SEB Bank, said China's oil demand in April was expected to fall by 800,000 b/d
compared to "normal" levels.

Another oil price bearish in recent days is that after a large-scale attack on Saudi oil facilities, Yemen's Houthis announced the start of a unilateral ceasefire
.
Earlier, according to the Saudi state news agency, the Saudi energy ministry said that oil product distribution stations in Jazan and Jeddah were attacked
.
The statement accused the Houthis of not only targeting Saudi Arabia, but also attempting to undermine the security and stability
of the world's energy supply.

In addition, with the approach of the OPEC meeting, the statements of various oil producing countries on the increase in production began to affect the market, and some market participants believe that OPEC will continue to increase production by
400,000 barrels per day per month.
The UAE's energy minister said on Monday that production needs to be increased and energy prices lowered, but reiterated that the UAE will not break away from OPEC+ or go
it alone.

Operation suggestions: crude oil band pullback area 750-680, under the pressure of bearish shorts has been in place at night, early focus on the support area 680-670 range does not break the short-term stabilization pay attention to the short-term intraday rebound market, the overall disk looks at the general trend more, short-term weakening adjustment situation, intraday operating range 675-713
.