宝城期货原油早报-2026-02-09-20260209

Group 1: Report Industry Investment Rating - Not provided Group 2: Core View of the Report - The crude oil futures are expected to run strongly, with short - term and medium - term trends being oscillatory and the intraday trend being strong. The core logic is that the marginal improvement in supply - demand fundamentals provides solid support, and geopolitical risks are rising [1][5]. Group 3: Summary According to Related Catalogs 1. Time - cycle View - Short - term (within one week): The trend of crude oil 2604 is oscillatory [1]. - Medium - term (two weeks to one month): The trend of crude oil 2604 is oscillatory [1]. - Intraday: The trend of crude oil 2604 is strong [1]. 2. Driving Logic - Supply - demand fundamentals: OPEC+ eight major oil - producing countries announced to continue to suspend production increase in March 2026, maintaining the production level of December 2025, which eases the market's concern about oversupply. The US winter storm affects crude oil production, with last week's crude oil inventory decreasing by 3.5 million barrels and Cushing area inventory decreasing by 743,000 barrels, strengthening the bullish logic [5]. - Geopolitical factors: Due to the large differences between the US and Iran, the "pizza index" of the US Pentagon has risen again, and geopolitical risks have increased, boosting the upward trend of domestic crude oil futures on the night of last Friday [5].