Crude oil fluctuated stronger during the day, and the US market quickly pulled above $90, stimulated by news.According to the news, OPEC+ representatives said on September 5 that OPEC+ agreed to cut production by 100,000 barrels per day in October, which directly contributed to the rebound of crude oil at the bottom.
Europe's energy crisis has escalated. Russia said it wants to shut down the Nord Stream 1 gas pipeline. European gas futures soared 35%, the biggest intraday increase since March. The prospect of an increase in oil demand due to rising natural gas prices is one of the factors boosting crude oil.
All in all, the background of today's OPEC+ meeting is complicated. If the Iran nuclear agreement is resumed, Iran may increase supply by 1 million b/day, or 1% of global demand. Meanwhile, Russia has indicated that it will stop supplying oil to countries that support limiting the price cap of Russian energy supply. Meanwhile, Russia's gas supply in Europe has been further reduced, which could trigger a sharp rise in the price of crude oil as an alternative.
Crude oil market analysis and operation strategy:Looking at the daily level, today's Zhongyang line is already under pressure from the 5-day EMA. The intraday market has returned to the 90 US dollar mark. We will continue to pay attention to the upper 91 US dollar mark during the day. Operationally, the layout is still on the low, and the central crude oil fund can continue to hold. Friends who operate futures in the short term can pay attention to support around $89.2 below. Relying on support, they can also go long in the short term. The stop loss is below $88.9, and the target is still...