宝城期货原油早报-20250523

Report Summary 1. Report Industry Investment Rating - No investment rating information is provided in the report. 2. Report's Core View - The crude oil market is expected to run weakly, with short - term, medium - term, and intraday trends being mainly oscillatory, and the intraday trend being oscillatory and weak [1][5]. 3. Summary by Related Catalogs 3.1 Time - cycle Analysis - Short - term: The short - term trend of crude oil 2507 is oscillatory [1]. - Medium - term: The medium - term trend of crude oil 2507 is oscillatory [1]. - Intraday: The intraday trend of crude oil is oscillatory and weak, with a reference view of weak operation [1][5]. 3.2 Price and Market Conditions - On Thursday night, the domestic crude oil futures 2507 contract closed slightly lower by 1.21% to 456.9 yuan/barrel, and it is expected to maintain an oscillatory and weak trend on Friday [5]. 3.3 Core Logic - Although Sino - US economic and trade relations have made substantial progress and macro factors have turned optimistic, the US debt crisis in June is approaching, which may trigger a new round of negative macro - impacts. OPEC+ oil - producing countries are accelerating the pace of production increase, and the crude oil demand outlook is weak. The bearish macro - atmosphere has outweighed the bullish support from the renewed chaos in the Middle East geopolitical situation [5].