（原标题：国际油价"跌跌不休"，机构拉响油价腰斩警报） 南方财经 21世纪经济报道记者吴斌 随着近期俄乌和平协议希望重燃，国际油价一度大跌，11月25日， 国际油价继续小幅下跌，布伦特原油期货在62美元/桶附近，美国原油期货在58美元/桶附近。 据央视新闻报道，针对美方就结束俄乌冲突提出的28点新计划，美国、乌克兰、欧盟及英法德三国代表 本周在瑞士日内瓦举行会谈。日内瓦会谈是"继续接触、避免谈崩"的必要一步，但距离突破还有距离。 欧佩克表示，由于美国原油产量超预期增长等原因，目前全球市场已从每日供应短缺40万桶转为每日供 应过剩50万桶，进入结构性供应过剩。EIA也预计市场将供过于求，EIA数据显示，2025年全球原油及 液体燃料总供应量预计为1.06亿桶/日，全球原油及液体燃料总消费量预计为1.041亿桶/日。韩正己认 为，总体来看油价仍面临一定的下行压力。 随着俄乌和平协议希望重燃，近期油价"跌跌不休"。 金联创原油分析师韩正己对21世纪经济报道记者表示，美国近日就结束俄乌冲突提出28点新计划，并给 乌克兰划定了接受期限，且频频公开施压，投资者对俄乌和平协议前景持观望态度。整体来看，俄石油 主要受到制裁与 ...

隔夜美股三大指数涨跌不一，中概指数跌1.46%。港股三大指数集体低开，恒指跌0.53%，国指跌0.5%，恒生科技指数跌0.82%。权重科技股集体 走低，京东跌2.57%，快手跌2%，阿里巴巴跌1.85%，腾讯跌超1%，百度、美团跌0.79%；欧佩克将石油市场展望转为过剩，美国原油期货收跌约 4.2%，连续上涨的石油股回调，中国海洋石油跌2.35%，汽车股、濠赌股等多数下跌。另外，在美国政府停摆可能结束之前，金价持稳，黄金股 集体强势，赤峰黄金、灵宝黄金涨近3%。 （原标题：港股早评：三大指数低开，科技股普跌，黄金股集体强势） ...

Core Insights - U.S. crude futures have eased in early trading on Friday, following a surge from the previous day, but are still on track for a weekly gain due to ongoing supply concerns [1] Group 1: Market Reaction - The easing of U.S. crude futures indicates a correction after a significant price increase [1] - Despite the recent decline, the market is positioned for a weekly gain, reflecting underlying strength [1] Group 2: Supply Concerns - Fresh U.S. sanctions on Russia's two largest oil companies have heightened supply concerns in the market [1] - The sanctions are a direct response to the ongoing war in Ukraine, impacting global oil supply dynamics [1]

Group 1 - Allwinner Technology expects a net profit growth of 72.2% to 92.06% year-on-year for the first three quarters [1] - Northern Rare Earth anticipates a net profit increase of 272.54% to 287.34% for the first three quarters [1] - Semiconductor companies like Cambrian and ASML are set to release their earnings reports [1] Group 2 - Qualcomm is under investigation by the State Administration for Market Regulation for alleged antitrust violations [1] - China is pushing for the establishment of China Fusion Energy Co., Ltd. in Shanghai [1] - The Ministry of Industry and Information Technology is conducting commercial trials for satellite IoT services to enhance satellite communication market supply [1] Group 3 - The number of new A-share accounts in September reached 2.9372 million, a year-on-year increase of 60.73% [1] - SMIC and Hua Hong Semiconductor have seen significant reductions in their margin calculation rates to 70% and 50% respectively [1] - Northern Rare Earth and Baotou Steel have raised rare earth prices, marking the highest month-on-month increase in two years [1]

Core Viewpoint - The U.S. stock market experienced a significant decline, with the Nasdaq and S&P 500 indices recording their largest single-day drops since April 10, driven by a provocative statement from former President Trump [1][3]. Market Performance - The Nasdaq Composite Index fell by 3.56%, closing at 22,204.43 points, while the S&P 500 Index dropped by 2.71%, ending at 6,552.51 points, marking their largest single-day declines since April 10 [3][4]. - For the week, the S&P 500 Index decreased by 2.43%, the largest weekly drop since June, and the Nasdaq Index fell by 2.53%, the largest weekly decline since April [3][4]. Major Stock Movements - Major technology stocks saw significant declines, with the Wande American Technology Seven Giants Index dropping by 3.65%. Notable individual stock performances included: - Tesla down over 5% - Amazon down over 5% - Nvidia down nearly 5% - Apple and Facebook down over 3% - Microsoft down over 2% - Google down nearly 2% [11][12]. Chinese Stocks Performance - Chinese stocks also faced substantial losses, with the Nasdaq Golden Dragon China Index falling by 6.1%. Key declines included: - Alibaba down 8.45% - Bilibili down over 9% - Baidu and Xpeng down over 8% - JD.com down over 6% [13][14]. Commodity Market - International oil prices saw a notable decline, with U.S. crude futures dropping by 4.24% to $58.90 per barrel, and Brent crude futures falling by nearly 3.82% to $62.73 per barrel. Gold prices, however, increased by over 1% [16][15].

Group 1: Gold Market Analysis - The price of spot gold has reached a historic high, surpassing $4000 per ounce, with a peak at $4036.98 [1] - The Federal Reserve's shift in monetary policy is a significant driver behind the surge in gold prices, with market expectations for a 25 basis point rate cut this month and another in December [1] - Traders are increasingly optimistic about gold reaching the $5000 mark, driven by expectations of continued monetary easing [1] Group 2: Technical Analysis of Gold - The current strategy for trading gold focuses on identifying entry points rather than predicting price peaks, maintaining a bullish outlook [3] - Key support levels for gold are identified at $3983 and $3975, while resistance is noted at $4060-4070 [3] Group 3: Oil Market Analysis - U.S. crude oil prices are rebounding, supported by the American Petroleum Institute's inventory report, which showed a significant increase in crude oil stocks [4] - The report indicates a mismatch in supply and demand, with strong consumption of gasoline and distillates, providing support for oil prices [4] - The oil market is expected to remain volatile, influenced by upcoming EIA data and fluctuations in the U.S. dollar [4] Group 4: Technical Analysis of Oil - The medium-term trend for oil prices is downward, with current trading showing a lack of strength in bullish movements [5] - Short-term trading strategies suggest focusing on buying on dips, with resistance levels at $63.5-64.5 and support at $61.0-60.0 [5]

Group 1: US Market and Economic Developments - US stock indices collectively rose, with Apple increasing over 5% and the Chinese concept index rising by 0.93% [2] - US crude oil futures fell by more than 1.2%, while New York natural gas rose over 2.2% [5] - Trump announced plans to impose approximately 100% tariffs on chips, with exemptions for domestic manufacturing in the US [5] - Trump also plans to impose an additional 25% tariff on imports from India [5] - Apple is set to invest an additional $100 billion in US domestic manufacturing, bringing total investments to $600 billion [5] Group 2: Company Announcements and Financial Performance - iQIYI is reportedly considering a secondary listing in Hong Kong [6] - BeiGene reported a total revenue of 17.518 billion yuan for the first half of the year, a year-on-year increase of 46% [6] - Uni-President China (00220.HK) reported a net profit of 1.2867 billion yuan for the first half of the year, a year-on-year increase of 33.2% [6] - *ST Dongtong's actual controller and chairman received a notice of investigation from the China Securities Regulatory Commission [7]

Group 1 - International crude oil prices are under pressure, with WTI trading around $66.90 per barrel, down over 2% from the previous trading day, and Brent crude futures closing at $68.64, down 2.21% [1] - Market sentiment is cautious due to concerns over global economic growth stemming from President Trump's tariff policies and the critical turning point in OPEC+ production policies [1][3] - The upcoming trade measures set to take effect on August 1 have raised investor worries about the potential suppression of global trade activity and economic growth, which could negatively impact oil demand [3] Group 2 - OPEC+ is expected to further ease voluntary production cuts in September, with eight member countries anticipated to gradually restore production capacity, indicating a potential oversupply in the global market [3][4] - The Federal Reserve's high interest rate policy is increasing borrowing and investment costs, indirectly suppressing oil demand by limiting the expansion willingness of energy-intensive industries [3][4] - The combination of high interest rates and impeded global trade growth is creating a "double pressure" scenario on oil prices, leading to a potential short-term downward risk [4]

Group 1 - The core viewpoint of the articles revolves around the recent ceasefire agreement between Israel and Iran, which has alleviated tensions in the Middle East and led to a significant drop in oil prices, benefiting global inflation control efforts [2] - Following the ceasefire, oil prices fell nearly 3%, after a previous drop of nearly 9%, bringing U.S. crude futures close to their lowest point before the Israeli attacks on Iran [2] - The U.S. dollar weakened due to the easing geopolitical tensions, with notable declines against the Japanese yen and British pound, as investors shifted their focus to the upcoming congressional testimony of Federal Reserve Chairman Jerome Powell [2] Group 2 - In the context of uncertain interest rate outlooks, the U.S. dollar index fell from 99.40 to below 98, indicating a potential downward trend if it breaches the 97.60 level [3] - The Federal Reserve has not taken action on interest rates this year, influenced by inflation from Trump's tariff policies, but there are emerging divisions within the Fed regarding potential rate cuts, with some officials leaning towards a reduction in July [2] - Powell is expected to face questions regarding the Fed's decision to maintain interest rates and its future borrowing cost outlook, especially after Trump's call for a significant rate cut [2]

Group 1 - Brent crude and WTI crude futures fell by over $5 during the day [1]