The Iran plane crash didn't spoil the oil market? Industry warns OPEC+ inventory will calm fluctuations

① The unexpected “steadiness” of the oil market on Monday was very different from the performance of the precious metals market, which soared due to news of the Iranian President's helicopter crash; ② On the other hand, Saudi Crown Prince postponed his visit to Japan due to Saudi King Salman's physical factors, and both major oil producers faced significant political risks; ③ Some analysts pointed out that the influence of geopolitics on the oil market has become inelastic, which is related to OPEC+'s large inventories.

cls.cnMay 20 16:27

Another uncertainty in the oil market: the Saudi king is sick, and the crown prince cancels his trip to Japan

Will the Saudi king's health issues affect the coherence of the country's oil policy?

Golden10 DataMay 20 15:21

Oil Prices Edge Higher With Iran in Focus After Helicopter Crash

Oil prices rose slightly in Asian trade on Monday as traders sought more information on rescue attempts for Iran’s President after a helicopter crash.

InvestingMay 20 11:20

Hedge fund bulls left the oil market and sold at the fastest speed in over a year!

As geopolitical risk premiums weakened and the market showed signs of sufficient supply, fund managers' long crude oil positions fell the fastest since March 2023 last week.

Golden10 DataMay 17 17:10

UBS: OPEC+ is expected to extend the production reduction agreement for at least 3 months, and oil will rise to $91 in June

OPEC+ will hold its next meeting on June 1, and UBS expects that the organization will agree to extend the voluntary production reduction agreement to maintain the balance of the oil market.

Zhitong FinanceMay 17 11:07

Oil Prices Steady, Set for Mild Weekly Gains Amid Demand Hopes

Oil prices moved little in Asian trade on Friday, but were headed for a mildly positive week as a softer dollar, shrinking U.S. inventories and increased Chinese stimulus stoked hopes of improving demand.

InvestingMay 17 09:24