建信期货原油日报-20250723

Report Overview - Report Title: Crude Oil Daily Report - Report Date: July 23, 2025 - Report Industry: Energy - Chemical (Crude Oil) 1. Report Industry Investment Rating - Not provided in the given content 2. Report's Core View - In the peak season, the single - week crude oil consumption is slightly lower than expected, but there are no new negatives in the market, so the market is expected to have an upward potential. It is necessary to continue tracking consumption and Saudi Arabia's supply changes [6][7] 3. Summary by Relevant Catalogs 3.1. Market Review and Operation Suggestions - Market Review: WTI's opening price was $66.04/barrel, closing at $65.78/barrel, with a high of $66.44/barrel, a low of $65.21/barrel, a decline of 0.41%, and a trading volume of 22.7 million hands. Brent's opening price was $69.21/barrel, closing at $69.09/barrel, with a high of $69.63/barrel, a low of $68.4/barrel, a decline of 0.27%, and a trading volume of 28.12 million hands. SC's opening price was 511 yuan/barrel, closing at 504.3 yuan/barrel, with a high of 512.1 yuan/barrel, a low of 501.6 yuan/barrel, a decline of 2.13%, and a trading volume of 14.38 million hands [6] - Supply - Demand Situation: The three major institutions' July reports show little adjustment on the demand side. On the supply side, except for Kazakhstan, seven other countries have completed compensatory production cuts according to OPEC. There are differences among the three institutions regarding Saudi Arabia's crude oil production this month. IEA expects Saudi Arabia's production to reach 9.8 million barrels per day, while OPEC and EIA estimate it to be around 9.3 million barrels per day. High - frequency data shows that US refined oil consumption is slightly lower than expected, and the apparent demand for gasoline and diesel has declined [6] - Operation Suggestions: Continue to track consumption and Saudi Arabia's supply changes [7] 3.2. Industry News - Israel's Chief of Staff stated that actions against Iran are not over - Iran's Foreign Minister said Iran is willing to talk with the US but will not have direct talks for now - The UK government imposed 137 new sanctions on Russia's key energy and oil industries, targeting 135 oil tankers that are part of a fleet that has illegally transported $24 billion worth of goods since early 2024 [10] 3.3. Data Overview - The report presents multiple data charts, including global high - frequency crude oil inventory, WTI fund positions, Brent fund net positions, WTI and Oman spot prices, US crude oil production growth rate, and EIA crude oil inventory [11][14][16]