The rebound in international oil prices is weak, and the bears are optimistic about the policy prospects of the United States and Europe

On Monday (August 8), international oil prices rebounded weakly, although the US non-farm jobs rose sharply in July and China's crude oil imports rebounded in July, easing recession fears, and the two cities rose more than 1%
at one point.
But the U.
S.
policy on the most renewable energy could still undermine economic growth, and the European Union may have reservations
about Russia's punitive measures to avoid a surge in oil prices.

At 16:23 Beijing time, NYMEX crude oil futures fell 0.
64% to $88.
44 / barrel; ICE Brent crude futures fell 0.
71% to $94.
31/bbl
.

U.
S.
non-farm payrolls accelerated growth in July, overturning the U.
S.
recession theory
.
China imported 8.
79 million bpd of crude oil in July, higher than the four-year low recorded in June, benefiting from China's overall export growth momentum
, according to Chinese customs data.

Despite the EU's embargo on Russian oil imports from December 5, Russian crude oil and petroleum products exports continue
.
Russian oil is at great value and is very popular
among Asian refiners, the sources said.

ESPO is Russia's main grade of crude oil sold to Asia
.
The price of ESPO crude, which arrived in India last month, already includes $2 million in freight, but it is still quoted more
than $7 per barrel below the Dubai crude benchmark price, the sources said.

According to sea volumes, India became the largest buyer
of Russian oil in July.
According to Refinitiv Eikon, the world's third-largest crude oil importer saw a record 29.
5 million barrels of crude imports, including 3.
4 million barrels of ESPO crude
.

The European Union has adjusted the sanctions against Russia, which came into effect last month, easing restrictions on
oil transportation payments for state-owned Rosneft and Gazprom (ESPO's main supplier of crude oil).

Low-priced supply of Russia has helped boost profit margins for Asian refineries, while price pressures are likely to persist until the European ban goes into effect later this year and more sanctions could be imposed on Russia
.

RBC Capital's Helima Croft said in a note: "Given Europe's concerns about soaring energy prices, we believe Europe may have some reservations about punitive measures to avoid the withdrawal
of millions of barrels of Russian oil from the market every day.
" ”

In the United States, the oil rigs of energy companies have been reduced again after 10 weeks
.
The U.
S.
Senate passed a $430 billion bill last Sunday (Aug.
7) aimed at tackling issues such as climate change and benefiting the clean energy industry
.

While the ruling Democratic Party aims to reduce carbon emissions and steer consumers to green energy, Republicans argue that the bill will not address inflation and condemn the measure as killing jobs that could undermine growth
when the economy is in danger of falling into recession.