CNN believes that Iran and Israel are closer to war than ever before. On MaChina removes U.S. crude oil from target tariff listy 9, Israeli Prime Minister Netanyahu met with Russian President Putin. During this meeting, Netanyahu is bound to reiterate Israel’s opposition to Iran’s continued consolidation of its military power in Syria and ask Putin to work hard to join the ranks of preventing Iran. Analysts pointed out that the escalation of the geopolitical situation may bring countless effects, further increases in oil prices and a blow to investors' risk appetite.
Due to its abundant oil reserves, Venezuela was once the richest country in Latin America, but now its oil production has been drastically reduced and the country’s economy is in a mess. Some analysts pointed out that the Venezuelan government’s excessive expenditure on social welfare has led to the proliferation of banknotes, and inflation has soared. Since 204, the oil price has begun to collapse and become the last straw to crush the country’s economy. Crude oil revenue accounts for 95% of Venezuela’s exports. Suddenly lost almost the only source of income.
Although the listing plan has not been officially cancelled, the possibility of cancellation is still very high. Because Saudi Aramco previously hired JPMorgan Chase, Morgan Stanley and HSBC as the global coordinators of the IPO, Moelis&Co and Evercore as independent consultants, and White&Case as legal counsel. But Saudi Aramco has never appointed a formal auditor. The budget of Saudi Aramco's payment consultants can only be used up to June and has not been updated so far. The source said that all the consultants are idle.
Although the level of long and short positions is so uneven, once the longs try to take profits and close some positions, it may trigger a sharp correction in oil prices. However, the global crude oil inventory has now fallen to a 5-year average level, which will support oil prices. Rising, in addition, geopolitical shocks in the Middle East may also push up oil prices, Venezuela’s economic collapse, potential sanctions on Iran, Syria and Yemen may also erupt conflicts.
After US President Trump announced that the US unilaterally withdrew from the Iran nuclear agreement, the US Treasury Department announced a grace period for future sanctions on Iran. For different industries, the US Treasury Department will grant grace periods ranging from 90 to 80 days, allowing companies to withdraw from commercial cooperation with Iran within the time limit. After the grace period, the sanctions will be fully effective and will apply to any companies outside the United States that have business dealings with Iran.
Previously, due to the impact of the Turkish economic crisis, India, as one of the emerging market countries, was also affected. In order to defend the rupee, the Central Bank of India sold a lot of dollars, but the effect was minimal. In June this year, the Central Bank of India raised interest rates for the first time in 204 years. However, judging from the phenomenon that investors still flee with funds, the central bank's intervention in boosting investor confidence is really oChina removes U.S. crude oil from target tariff listbvious. In July, foreign investors withdrew more than $6.6 billion from the Indian stock market.
In April this year, crude oil imports amounted to 9.46 million tons, equivalent to 9.6 million barrels per day, an increase of 7% year-on-year, which was a percentage point higher than that of the previous month, and set a historical record for the same period in the past decade. The data for several consecutive months hinted at huge changes in crude oil imports: before the beginning of 208, there had never been a single month of crude oil imports exceeding 7 million tons; into 208, only when the crude oil imports in February were less than 700 Ten thousand tons are due to the Lunar New Year, and the month, month, and April all exceed 7 million tons.
It is worth noting that on Wednesday, May 9th, at 20:00 Beijing time, the US April PPI monthly rate, the US April PPI annual rate, the US April core PPI monthly rate and the US April core PPI annual rate will be announced. Later, At 22:00 Beijing time, EIA crude oil inventories from the United States will be announced for the week ending May 4, and the market is expected to decrease by 70,000 barrels.
Sources confirmed on September 27 that Saudi Arabia intends to put as many as 550,000 barrels of oil daily into the market in the next eight weeks. OPEC insiders said that the increase in oil supply will depend on demand, but if market demand is obvious, supply will increase accordingly.