DBG Dunbo platform: Under the double-play between supply and demand, oil prices may fall for five consecutive weeks this week, returning to the short range.

On Thursday (December 20), the US crude oil Asian session continued yesterday's decline, trading at around $69.03/barrel. Fundamentally, the demand outlook for the Federal Reserve's hawkish interest rate cut pressure.DBG Shield BoAt the same time, the easing expectations have further slowed down, which is unfavorable for the strengthening of oil prices.

The market expects a global oil supply glut next year, putting pressure on oil prices and commodities again in the medium termbrokerStoneX analyst Alex Hodes said: "The Federal Reserve's easing in 2025 is less than initially estimated, which has caused the market to adjust its expectations."

At the same time, data yesterday showed that the US economy grew faster than expected in the third quarter, while the number of people applying for unemployment benefits also fell more than expected.

Bart Melek, head of commodity strategy at TD Securities, said the GDP data and jobless claims were quite solid, and solid economic and inflation risks once again proved that the Federal Reserve had little reason to be aggressive.

After the US crude oil rebounded, it fell below the moving average support again. This week, it has been overcast for four consecutive days. It is not ruled out that the weekly line has swallowed up the previous gains and returned to the possibility of the short structure. Waiting for further changes in fundamentals, this trading day focuses on the annual rate of the US PCE price index in November.

The Bank of England kept interest rates steady on Thursday, but policymakers were divided on how to respond to the economic slowdown.

The Bank of Japan has kept interest rates at ultra-low levels and President-elect Donald Trump has vowed to impose tariffs, casting a shadow over Japan's export-dependent economy.

The energy transition measures have also hit demand in the world's biggest oil importer hard, with the market widely expected to be in surplus next year, with JPMorgan analysts predicting supply will exceed demand by 1.20 million barrels a day.

Yemeni Houthi armed forces spokesperson Yahya Saree Adam said on the 19th that the Houthi armed forces successfully used a drone to strike a military target in the Jaffa area of Israel.

On the same day, Yemen's Houthi armed forces released a video, saying that the video content was that on the 19th, the Houthi armed forces used two "Palestine-2" hypersonic missiles to attack two Israeli military targets.

On the 19th, Israel released a video of air strikes on the Yemeni capital Sana'a and Hodeida in the early morning of the same day. The Israeli army said that 14 fighter jets dropped more than 60 bombs on Houthi military targets in Sana'a and the west coast of Yemen, hitting fuel depots, power stations and other facilities.

A major blow to the military capabilities of Yemen's Houthi rebels. Israeli Prime Minister Benjamin Netanyahu said Yemen's Houthi rebels will pay a heavy price for attacking Israel.

From a technical perspective, after the U.S. crude oil daily line broke the moving average, the MACD indicator was dead, and the green column was enlarged. There is a possibility of further downside in the short term. Pay attention to whether the box support is effective near $67.

At 10:16 Beijing time, US crude oil is now trading at $69.02 per barrel.