宝城期货原油早报：风险偏好回暖，原油震荡偏强-20250423

Report Summary 1. Report Industry Investment Rating - Not provided in the report. 2. Core View of the Report - The report predicts that the prices of domestic and international crude oil futures on Wednesday, April 23, 2025, may maintain a pattern of fluctuating slightly upward. The short - term view of crude oil 2506 is oscillating, the medium - term view is oscillating weakly, and the intraday view is oscillating strongly, with an overall reference view of strong operation [1][5]. 3. Summary by Related Catalog Crude Oil Market Analysis - Supply - side Changes: After OPEC+ decided on compensatory production cuts for over - producing Kazakhstan and Iraq, the supply - side expectations of crude oil were revised. The US Treasury's sanctions on Iran to limit its oil exports to zero also adjusted the expected increase in crude oil supply [5]. - Geopolitical Factors: The sanctions on Iran intensified the conflict between the US and Iran, strengthening the premium boost of geopolitical factors on crude oil [5]. - Market Sentiment: After US President Trump stated that he had no intention of dismissing the Fed Chairman, the risk appetite of the global financial market was restored, leading to a slight rebound in international crude oil futures prices [5]. - Price Performance: On Tuesday night, the domestic crude oil futures 2506 contract closed up 2.15% at 498 yuan per barrel [5].