Aramco CEO warns of energy shortages, since summer travel peak is coming. Which is good for US oil.
【Strategy】
Investors are recommended to consider Marginal Long after the price pulls back to 110.30. With Target 112.80, Stop Loss at 109.20.
【News】
Saudi Aramco CEO warned that due to lack of investment in fossil energy in recent years, the world is facing a serious crude oil supply gap. Since the world’s current crude oil idle capacity is less than 2%, before the outbreak of the new crown epidemic, the aviation industry consumed more fuel than it is now out of 2.5 million barrels per day, so if the recovery of the aviation industry accelerates, there will be big problems. In addition to the expectation of relevant institutions, the summer travel peak is coming, which will push up energy consumption. Therefore, the US oil market will fluctuate but be bullish.
【Technical】
In the H4 range, the K-line is currently running around the middle rail of the Bollinger Band in a volatile pattern; the KD indicator went up; the MACD indicator has multiple kinetic energy. The overall pattern is fluctuating and ascending.
*Information above belongs to 3rd party media comments, can only be used for references and doesn’t represent our platform’s opinion. Investors should maintain sole-determination, self-evaluation required and be responsible for their own action.
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Disclaimer: Information above can only be use for references and doesn’t represent our platform’s opinions.
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