Institutions: Oil prices began to fall back

The market began to weigh winter demand and the Iranian nuclear agreement, oil prices began to fall, and as of Friday's close, WTI fell 2.
25 to $92.
09 / barrel in September, or 2.
38%; October Brent fell 1.
45, or 1.
46%,
to $98.
15 a barrel.
China crude oil futures SC 2210 closed up 18.
2 yuan / barrel at 672.
7 yuan / barrel
.

Judging from the news, first, the Iranian side is evaluating the "final text"
proposed by the European Union to resume the implementation of the comprehensive agreement on the Iranian nuclear issue.
Iranian media reported on the 12th that Iran "can accept" this text
under the premise of ensuring that key demands can be met.

Second, the total number of oil rigs in the United States increased by three to 601 in the week to August 12, returning to an upward trend, although Reuters reported on August 14 that under a settlement agreement, the US Bureau of Land Management will suspend oil and gas leases on 2.
2 million acres of public land in Colorado because environmental groups say their current management plan does not consider climate impacts
.
The increase in U.
S.
shale oil production in the later stage is still uncertain.

Third, August 13, an official of the Hungarian Foreign Ministry said on Saturday that Gazprom has increased gas supplies
to Hungary through the Turkish Stream pipeline.
Alleviated market fears of Russian energy supply cuts
.
The current market trading logic is the trade-off between Russia's possible reduction of the risk premium brought by energy supply and the Fed's interest rate hike, the slowdown in global economic growth, 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, Friday's impact on the 100 mark failed, the early benefits have been exhausted, it is recommended to short
on the high.