On 30 october, sc crude oil futures pallets opened in shanghai, shanghai, increased by 0. 50 per cent to $461. 3/barrel, with a maximum impact of $466. 1/barrel and a minimum of $459. 7/barrel。
On the outside market, us$ 60. 39 per barrel of crude oil has been reported, down by 0. 15 per cent to date, us$ 60. 47 per barrel to date, us$ 60. 13 to date, and us$ 64. 07 per barrel to date, down by 0. 23 per cent to date, us$ 64. 34 to date, and us$ 64. 07 to date。
[whispering]
Oil futures status internally and externally
Species
Discount price
♪ up and down ♪
Sc crude oil futures
$462. 6/barrel
-0. 81%
Wti crude oil futures
$ 60. 48 per barrel
0. 55 per cent
Brent crude oil futures
$ 64. 92/barrel
0. 81%
Market highlights and data
As of the week of 24 october, the united states of america imports 1,025 million barrels of crude oil, with an ex-value of 656,000 barrels; imports of finished oil 284,000 barrels per day, with an ex-drill value of 335,000 barrels per day; and stockpiles of heating oil 49,000 barrels, with an ex-drill value of 88,000 barrels。
By the week of 24 october, united states crude oil exports had increased by 158,000 barrels to 4361 million barrels per day; domestic crude oil production had increased by 15,000 to 13,644,000 barrels per day; and the average supply around crude oil products was 20,753,000 barrels per day, a decrease of 0. 91 per cent compared with the same period last year。
Market news: oseberg, north heisberg, was set for three ships in december. Troll's december load was set at three ships。
According to the latest data from the united arab emirates oil industry in fujairah, the total stock of oil produced in the united arab emirates port of fujairah was 17,756,000 barrels as of the week of 27 october, a decrease of 2. 258 million barrels compared with a week ago. Of these, light distilled oil stocks increased by 70,000 to 799,000 barrels, middle distilled oil stocks decreased by 302,000 to 33. 313,000 barrels and heavy residues fuel stocks decreased by 20. 26 to 64. 94 million barrels。
Institutional perspective
Light futures: eia stock data show a global downfall, of which commercial crude oil stocks, excluding strategic reserves, were reduced by between 6. 85 million and 416 million barrels on 24 october, a decrease of 1. 62 per cent. The united states strategic oil reserve spr stock increased by between 5. 33 million and 4091 million barrels per week, an increase of 0. 13 per cent, the highest since the week of 30 september 2022. Oklahoma crude oil stock increased by 1. 334 million barrels, refined oil stock decreased by 3. 362 million barrels, petrol stock decreased by 5. 941 million barrels and heating oil stock increased by 49,000 barrels. Data released by the mexican national petroleum company, pemex, show that crude oil and condensate production declined by 5. 6 per cent in september, to 1. 65 million barrels per day. Although the olmeca new refinery at dos bocas port has come into operation and billions of dollars have been invested in upgrading, many oil fields have depleted their reserves and newly discovered oil fields have been unable to bridge the production gap, making it difficult to increase production. The united states federal reserve announced on 29 january that the federal fund interest rate would be reduced by 25 basis points to between 3. 75 and 4. 00 per cent. This was the second and fifth decline since september 2024, following the 25 base points of interest cut by the fed on 17 september. The overall interest rate reduction was in line with market expectations, but the wording was divided and the subsequent interest rate reduction path was variable. Current risk preferences in the crude oil market have improved, and oil prices are expected to continue at the pace of shock。
Generating futures: in terms of supply and demand, no major shifts are expected, with the increase in the production of opec and the high level of russian crude oil exports, and overstretching of supply during the fourth quarter of the season. At the next opec+ meeting, on 2 november, sources indicated that opec+ was inclined to increase production again at a small rate, equal to 137,000 barrels per day last month. In terms of data, the fact that the united states stock of eia crude oil - 6. 85 million barrels - was expected to be 211,000 barrels by 24 october, the forward value - 961,000 barrels - was over-anticipated for the second week, shows a strong demand and further helps stabilize oil prices. Overall, while russian oil supply risks have been downgraded, the recent trend in central america has been more positive, with oil prices shaking. In the medium term, the certainty of crude oil is accumulated significantly, from four quarters to early next year or at the bottom。
