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Five consecutive drops! Oil prices fell 6% in a single week. Will the next two months be the key?
Standard Chartered Bank pointed out that May and June will be a critical period for whether petroleum fundamentals will be further tightened. At that time, inventories will decline at an accelerated pace, and global oil demand has reached a record high.
CITIC Securities released a research report stating that for the first time, it covered Sinopec Guande (00934.HK) to give a “buy” rating and predicts that net profit from 2024 to 2026 will reach 1.37 billion, 1.46 billion yuan and 1.46 billion yuan, with
CITIC Securities released a research report stating that for the first time, it covered Sinopec Guande (00934.HK) to give a “buy” rating and predicts that net profit from 2024 to 2026 will reach 1.37 billion, 1.46 billion yuan and 1.46 billion yuan, with lower current valuation levels of HK$6.2. The bank pointed out that the company is a petrochemical warehousing and logistics company under Sinopec (00386.HK), which owns several crude oil terminals and petrochemical storage assets in mainland China. The revenue and profit performance of various businesses is relatively stable, and it is expected that future profits will rise steadily as it gradually divests its non-performing assets. In addition, Sinopec Guande's cash-sufficient business is also growing steadily.
Express News | CICC: Copper and oil prices are expected to remain high in the medium to long term
Express News | Goldman Sachs raised Brent crude oil price estimates for the second half of 2024 and 2025 to $86 and $82 per barrel, respectively (previously estimated at $85 and $80, respectively).
Express News | CICC: External factors and supply clearance bring opportunities to the upstream resource industry, focusing on resource sectors such as gold, petroleum and petrochemicals, and non-ferrous metals
The tense situation in the Middle East seems to have been brought under control. Gold prices and oil prices have been weak at the beginning of the week
① Analysts said that since Iran will not carry out further attacks on Israel, the tension in the Middle East has eased; ② investors are gradually withdrawing from safe-haven assets. As of press release, the prices of assets such as gold, oil, and silver have all declined slightly.
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