建信期货原油日报-20250424

Report Information - Report Title: Crude Oil Daily Report [1] - Date: April 24, 2025 [2] Market Review and Operation Suggestions - WTI opened at $62.73, closed at $63.54, with a high of $64.36, a low of $62.72, a daily increase of 1.81%, and a trading volume of 27.82 million lots [6] - Brent opened at $65.8, closed at $66.85, with a high of $67.08, a low of $65.58, a daily increase of 2.37%, and a trading volume of 30.55 million lots [6] - SC opened at 495 yuan/barrel, closed at 503.8 yuan/barrel, with a high of 506 yuan/barrel, a low of 492.4 yuan/barrel, a daily increase of 3.34%, and a trading volume of 16.16 million lots [6] - API data showed that as of the week ending April 18, U.S. crude oil inventories declined more than expected, and overnight oil prices continued to rebound [6] - OPEC+ updated its compensation production cut plan, reducing the average daily production by 72,000 barrels after May. After the update, the new supply in May decreased to 33,000 barrels per day, providing some support to the supply side [7] - The U.S. imposed stricter sanctions on buyers of Iranian and Venezuelan crude oil, which may have a short - term deterrent effect on the market [7] - Three major institutions downgraded their global crude oil demand forecasts for 2025 and 2026 to varying degrees. Although supply was also adjusted downward due to pessimistic oil price expectations, the overall supply surplus increased [7] - In the context of the trade war, the market's expectation for crude oil demand is pessimistic. Oil prices have limited room for a trend - upward movement and are highly susceptible to significant fluctuations from news. Considering recent bullish factors, investors can consider buying call options and setting timely profit - taking targets. SC is relatively stronger due to sanctions [7] Industry News - The U.S. Treasury Department imposed sanctions on Iranian natural gas and shipping companies [8] - Russian President Putin will discuss OPEC+ issues with the Sultan of Oman [8] - According to a statement from the Iranian Foreign Ministry on the 22nd, the technical talks within the framework of the indirect Iran - U.S. talks originally scheduled for the 23rd were postponed to the 26th, and the heads of the two delegations will attend [8] Data Overview - The report includes data on global high - frequency crude oil inventories, WTI and Brent fund positions, spot prices of WTI, Dtd Brent, and Oman, U.S. crude oil production growth rate, and EIA crude oil inventories [10][12][13]