Hawkinsight APP - December 28th (Thursday) Asian morning market, due to the escalation of tensions in the Middle East, international oil prices rose。

Market Review

On Wednesday, WTI main crude oil futures closed down 1.$46, down 1.93%, reported 74.$11 / bbl; Brent main crude futures close down 1.31 dollars, down 1.62%, reported 79.$54 a barrel; INE crude futures close down 1.07% at 565.9 yuan。

As of press time, WTI's main crude oil futures rose slightly in the day..12%, at 74.$20 / bbl; Brent main crude futures up slightly 0.15% at 79.$66 / barrel。

important news

l Key shipping company announces return to Red Sea routes: Danish shipping company Maersk says it has temporarily suspended its routes through the Suez Canal and the Red Sea after an Iranian-backed Houthi attack on Yemen this month, and plans to arrange for dozens of container ships to sail through those routes in the coming weeks。

Escalating conflict in the Middle East: Israeli forces launched heavy bombardment of central Gaza by land, sea and air on Wednesday, a day after Herzi Halevi, Israel's chief of staff, told reporters the war would last "several months."。

l API data shows more than expected accumulation of crude oil: U.S. API crude oil inventories for the week to Dec. 22, recorded a 1.84 million barrel increase in U.S. inventories, higher than the 2.7 million barrel decrease expected by analysts for the month.。On Thursday, local time, the U.S. Energy Information Administration will also announce Ark EIA crude oil inventories until December 22.。

l Russian Deputy Prime Minister Novak speaks out: Novak says it will export no more than 4 to 5 percent of Russian oil and petroleum products to Europe this year, up from 40 to 45 percent previously。Novak also said India's share of Russian energy exports had risen to 40 percent.。

Novak also said that according to analyst estimates, Brent crude oil prices are expected to be $80 to $85 per barrel in 2024 and are the basis for Russian social and economic development forecasts.。OPEC + members are not targeting specific oil price levels, he said。"Our task is to balance supply and demand and keep the industry running stably, and Russia is a responsible participant in the OPEC + agreement."。

  Technical analysis

Rémy GAUSSENS, director of research at TRADING CENTRAL, said that on the 30-minute line, U.S. crude oil (WTI) - futures (G4) - are expected to fall restrictively during the day.。Even if we cannot rule out the possibility of a sustained technical rebound, the rebound should be limited in its length of time。

Trading Strategy: At 74.75 below, bearish, target price of 73.15, then 72.45; alternative strategies: at 74.Above 75, bullish, target price set at 75.55, then 76.15。Support level: 73.15, 72.45, 71.70; resistance level: 76.15, 75.55, 74.75。

Important schedule

Thursday 28th December

08: 30 Initial jobless claims for the week from the United States to December 23

10: 00 Monthly Rate of US Existing Home Contract Sales Index for November

10: 30 US to EIA Natural Gas Inventory for the Week of December 22

11: 00 US to December 22 week EIA crude oil inventories

11: 00 U.S. to December 22 Week EIA Oklahoma Cushing Crude Oil Inventories

11: 00 U.S. EIA Strategic Petroleum Reserve Inventory for the Week to December 22

 

Friday, December 29

09: 45 US December Chicago PMI

13: 00 Total number of oil rigs for the week from the United States to December 29

 

* * The above schedule is US Eastern Time (UTC-05: 00) * *