宝城期货原油早报-2026-02-04：品种晨会纪要-20260204

Key Points of the Report 1. Report Industry Investment Rating - Not provided [1][5] 2. Core View - The crude oil futures are expected to run strongly, with short - term and medium - term trends being oscillatory and the intraday trend being strong [1][5] 3. Summary According to Related Contents - Time Cycle Definition: Short - term refers to within a week, medium - term refers to two weeks to one month [1] - Price Calculation Rule: For varieties with night trading, the starting price is the night - trading closing price; for those without, it's the previous day's closing price. The ending price is the day - trading closing price to calculate the price change [2] - Strength Classification: A decline greater than 1% is considered weak, a decline of 0 - 1% is considered weakish, a rise of 0 - 1% is considered strongish, and a rise greater than 1% is considered strong. Strongish/weakish only applies to intraday views [3][4] - Driving Logic: The US President Trump frequently releases geopolitical risk signals. After a short - term sharp correction, the bearish sentiment in the oil market has been released. Due to the existing Middle - East geopolitical risks and the winter peak oil - using season in the Northern Hemisphere, the bullish atmosphere has re - gathered. The domestic crude oil futures maintained an oscillatory and stable trend on Tuesday night with a slight increase, and are expected to maintain an oscillatory and strong pattern on Wednesday [5]