宝城期货原油早报-20251107

Group 1: Report's Industry Investment Rating - The short - term rating for the crude oil 2512 contract is weak, the medium - term rating is volatile, and the intraday rating is weak [1]. Group 2: Report's Core View - The crude oil market is dominated by weak supply - demand fundamentals and is expected to run weakly. The 2512 contract of domestic crude oil futures may maintain a weak trend on Friday [1][5]. Group 3: Summary by Related Content Price and Performance - On Thursday night, the 2512 contract of domestic crude oil futures maintained a weak trend, with the futures price closing down 1.32% to 454.4 yuan per barrel [5]. Driving Factors - After the meeting between Chinese and US leaders in Busan, South Korea, the positive macro - sentiment has been digested, and the driving force of macro - factors has weakened, leading to profit - taking in the market. As geopolitical sentiment fades, the crude oil futures market returns to a supply - demand - driven market [5].