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建信期货原油日报-20250731
Jian Xin Qi Huo·2025-07-31 01:22

Group 1: Report Information - Report Name: Crude Oil Daily [1] - Date: July 31, 2025 [2] Group 2: Investment Rating - Not provided Group 3: Core View - In the short - term, oil prices are rising due to geopolitical and macro - support, but in the medium - term, they may fall again. It is recommended to operate flexibly. The implementation of US sanctions on Russia and the sustainability of high refinery operating rates in the US need further observation [6][7] Group 4: Market Review and Operation Suggestions - Market Data: WTI's opening price was 67.04, closing at 69.25, with a high of 69.76, a low of 66.53, a rise of 3.81%, and a trading volume of 30.64 million lots. Brent's opening price was 70.28, closing at 72.76, with a high of 73.08, a low of 69.86, a rise of 3.88%, and a trading volume of 13.67 million lots. SC's opening price was 518.1 yuan/barrel, closing at 528.6 yuan/barrel, with a high of 523.8 yuan/barrel, a low of 517.6 yuan/barrel, a rise of 2.7%, and a trading volume of 13.67 million lots [6] - News Impact: Trump will give Russia 10 days to reach a cease - fire agreement; otherwise, a 100% secondary tariff will be imposed on Russian energy buyers. The implementation of sanctions needs further observation [6] - Supply and Demand: US crude oil consumption is slightly lower than expected in the peak season. If demand remains low, it will drag down refinery operations and lead to crude oil inventory accumulation. OPEC+ is likely to increase production by 550,000 barrels per day in September [7] Group 5: Industry News - In June, Pemex's crude oil exports decreased by 39% year - on - year to a multi - decade low due to increased local refinery processing and fuel production [8] - Trump said he is not worried about oil issues if sanctions are imposed on Russia and gave Russia 10 days to reach a cease - fire agreement with Ukraine [8] Group 6: Data Overview - The report presents multiple data charts, including global high - frequency crude oil inventory, WTI and Brent fund positions, and EIA crude oil inventory [10][12][23]