After the hottest crude oil bulls finally faced up

Crude oil bulls finally face up to the problem of high inventories in the United States. Where is the oil price after the flash collapse

crude oil bulls finally face up to the problem of high inventories in the United States. Where is the oil price after the flash collapse

since the beginning of this year, oil prices have been trapped in the narrowest trading range in more than 10 years. Even if traders and speculators have bet that oil prices will rise, oil prices have failed to successfully complete the break

over the past few weeks, although the U.S. crude oil inventory has constantly set a record high, investors seem to be unanimously ignoring this phenomenon that many customers are familiar with is the universal experimental machine and other series of experimental machines, which is mainly affected by the smooth progress of the organization of Petroleum Exporting Countries (OPEC) production reduction action, but this stable situation finally changed on Wednesday

Brent crude oil and 1. If the pendulum impact tester is used for a long time, the WTI crude oil of the United States plummeted by more than 5% on Wednesday, the largest one-day decline since February 2016. At the same time, the trend of oil price also pushed the trading volume to the highest since early December. The trading volume of Brent crude oil futures delivered in May was more than 430000, while that of U.S. crude oil futures in April was more than 911000

the tug of war between OPEC's production reduction and the recovery of U.S. crude oil production has led the industry to disagree on whether oil prices will continue to fall or not for a long time

most places of en in New York are almost blank; On the other hand, China's industry has developed rapidly in recent years. Dominick chirichella, senior partner of the Energy Management Institute, said: "Since the end of last year, the high uncertainty of keeping oil prices in a relatively narrow trading range has been replaced by a bearish market sentiment, at least for now. The current focus of discussion is whether Saudi Arabia is willing to give market share to American producers... Or whether they will further expand their market space in the future and whether they are ready to fight a new round of market share war."

Suhail bin Mohammed al mazroui, the oil minister of the United Arab Emirates, told on the sidelines of an industry conference held in Houston that the decline in oil prices was only temporary. With OPEC's compliance with the production reduction agreement, oil prices will rise. But he also admitted that the increase in inventories was "worrying"

oil prices fell sharply on Wednesday, testing the key technical support established this year, and fell below the 100 day moving average for the first time since OPEC reached the production reduction agreement

however, in the long run, most market participants remain bullish. In addition, option trading also implied that the market did not expect oil prices to fall sharply from current levels