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The prospects for Iranian nuclear negotiations are favorable, and crude oil continued to decline, WTI fell 2.
88 to $86.
53 / barrel in September, down 3.
22%; October Brent fell 2.
76, or 2.
90%,
to $92.
34 a barrel.
China crude oil futures SC 2210 closed down 13.
5 yuan / barrel to 654 yuan / barrel
.
Judging from the news, first, the negotiations between Iran and EU negotiators show that progress has been made on a new nuclear deal that could open the floodgates for Iranian crude oil exports
.
A State Department spokesman said the United States had received Iran's response to the EU's nuclear proposal through the EU and was studying them
.
Second, API data showed that crude oil inventories fell by 448,000 barrels, refined oil inventories fell by 759,000 barrels, and gasoline inventories fell by 4.
48 million barrels
in the week ended August 12.
After the release of the data, oil prices did not fluctuate much
.
Third, China's economic recovery slowed unexpectedly in
July.
Industrial value added rose 3.
8 percent from a year earlier, down from 3.
9 percent in June and lower than economists' forecasts of 4.
3 percent
.
China's apparent oil demand fell about 10 percent year-on-year last month, with the crude oil market slowing
further.
Fourth, the average flow of Russian crude oil into Asia has fallen below 1.
75 million barrels per day, down from more than 2.
1 million barrels
per day in April and May.
Shipments to European buyers, including the Nordic, Mediterranean and Black Sea regions, were 1.
32 million barrels per day, down from 1.
85 million barrels
per day before the Russia-Ukraine conflict.
The current market trading logic is that Russia may reduce the risk premium brought by energy supply and the Fed's interest rate hike, the global economic growth slowdown between the trade-off, from the perspective of crude oil fundamentals, the current structural imbalance in the oil market has eased, the Iranian nuclear negotiations have made some progress, if Iran negotiates, it will have a greater impact on oil prices, if it falls into the shelf again, it will face the risk of a sharp rebound, it is recommended to stay on the sidelines for the time being
.
