International Oil Price Latest News: Overnight Market News and Data Summary

Forex PlatformInternational oil prices latest news: Overnight market news and data summary, the following is the latest data released.

The closing situation of the crude oil market:

Domestic market: On June 20, the main contract of crude oil futures on the Shanghai Futures Exchange closed at 617.9 yuan/barrel, an increase of 0.52%. During the night session, the main force of China crude oil futures SC 2408 closed up 3.9 yuan/barrel to 617.7 yuan/barrel.

Advertising Financial Calendar Information Express Quotes Free Futures Quotes Software Crude Oil Precious Metals Quotes Software

International market: As of Thursday (June 20) Eastern time, international oil prices rose, with WTI crude oil rising 0.74% to $82.17/barrel; Brent crude oil rose 0.75% to $85.71/barrel.

Market news and data summary:

Analyst Julia Fanzeres: The EIA report shows that the four-week average gasoline demand continues to show a slow but steady improvement. On a seasonal level, demand is catching up to last summer's levels, which is good news for traders who have been analyzing demand for the summer driving season.

Citi: Our latest third-quarter 2024 forecast suggests a shortfall of about 200,000 barrels per day for global oil and petroleum products, and an even larger shortfall when only crude oil is considered.

U.S. ultra-low sulfur diesel futures rose briefly, and the EIA report showed a decline in distillation fuel stocks.

U.S. gasoline futures extended their gains, hitting a three-week high after the EIA reported a decline in gasoline inventories.

Market perspective:

Huatai Futures: Recently, the European Union will impose a new round of sanctions on Russia, which will ban Russian LNG transshipment, but for crude oil, no further sanctions have been introduced. Only the United Kingdom has recently stated that it will crack down on shadow tankers. The recent low gas prices and low oil prices have created a window for further sanctions against Russia for the West. However, due to Russia's huge export volume in the oil and gas field, Western sanctions against Russia are still a mousetrap. We do not think it will have a substantive impact on Russian oil exports.