Crude oil prices closed lower on Tuesday (29th), with WTI crude oil futures falling below the $100 per barrel level for the first time since mid-month, due to Russian media reports that Russian officials described the Russia-Ukraine talks as “constructive.”
Meanwhile, OPEC+, which includes Russia, is expected to meet this week. Analysts appear to be broadly expecting OPEC+ to stick to its plan to increase production by 400,000 bpd in May.
Crude oil rebounded sharply after falling sharply on Tuesday, mainly due to the progress made in the negotiations between Russia and Ukraine. It fell from 107.7 to a minimum of 98.4, and then rebounded above 105. Today, we focus on the breakthrough of 108. This position does not break and continues to pull back. Judging from the strength of yesterday’s rebound, today The probability of breaking down again is small, and it will be in range fluctuation.
From the four-hour line, it is now blocked in the middle rail. Above, focus on the 107 line and the hour line. It continued to rise this morning, but the overall range is still fluctuating.108 -100 range, dominated by rebound and empty shocks
