Download App

16:26:43

Azerbaijan will export 1.2 billion cubic meters of natural gas annually to Syria from the Shah Deniz gas field, which is being developed by BP, according to the vice president of the State Oil Company of Azerbaijan (SOCAR).

08:52:42

[Sudden Market Shift: Can Public REITs Rebound Against the Trend?] ⑴ my country's public REIT market remains hot, with the latest data showing the number of listed products has expanded to 71. ⑵ China Huadian Clean Energy REIT listed on the Shanghai Stock Exchange on August 1st, becoming the first public REIT for natural gas power generation by a central SOE. ⑶ Prior to this, products such as CSOP Capital Agricultural REIT and Bank of China Sinotrans Warehousing and Logistics REIT also listed. ⑷ Some research teams believe that in the short term, the overall performance of public REITs will continue to be dominated by their debt-based nature. ⑸ Investor risk appetite and the implementation of incremental policies will be key market focus moving forward. ⑹ For projects with lower operating flexibility, their market trends will primarily depend on the rotation of macro assets. ⑺ For investors seeking long-term, stable returns, these projects still offer investment value, considering the interest rate spread and the proceeds from the issuance of new shares. ⑻ However, for projects with higher operating flexibility, market sentiment and transaction structure will be affected in the short term. ⑼ In the long run, whether these projects can maintain their core appeal depends on their own operating performance.

08:12:42

[The crude oil market is undergoing a sudden shift! Africa's "black gold" exports have plummeted, what's the trajectory of oil prices?] ⑴ Traders are digesting news of reduced Nigerian crude oil exports due to the impact of domestic refineries. ⑵ One trader stated that due to the seasonal slowdown in demand and upcoming refinery maintenance, reduced crude oil demand is expected to weaken the crude oil spread. ⑶ Sources report that the Nigerian National Petroleum Corporation (NNPC) will ship five cargoes of crude oil to the Dangote Refinery in September. ⑷ Preliminary data indicates that Nigeria's average daily exports of four major crude oil grades in September were approximately 758,000 barrels. ⑸ This figure is lower than the planned 864,000 barrels per day in August. ⑹ This suggests that the impact of Nigeria's domestic refineries on the country's crude oil exports is becoming apparent.

05:37:13

Fitch raised the rating of Mexican oil company Pemex by two notches to BB as the Mexican government issued $12 billion in bonds on the international market to help solve its financial problems.

04:46:41

At the end of New York trading on Friday, August 1, WTI crude oil futures maintained a 3% decline, temporarily reporting $67.17.

04:08:39

International oil prices fell on the 1st. As of the close of the day, the price of light crude oil futures for September delivery on the New York Mercantile Exchange fell by $1.93 to close at $67.33 per barrel, a drop of 2.79%; the price of London Brent crude oil futures for October delivery fell by $2.03 to close at $69.67 per barrel, a drop of 2.83%.

03:32:41

Data from the U.S. Commodity Futures Trading Commission (CFTC) showed that in the week ending July 29, the net long position in WTI crude oil increased by 5,127 contracts from the previous week to 33,370 contracts.

02:45:26

The settlement price of Brent crude oil futures was $69.67 per barrel, down $2.03 from the previous price, a drop of 2.83%.

02:31:49

WTI crude oil futures fell $1.93, or 2.79%, to settle at $67.33 a barrel.

02:31:48

NYMEX September natural gas futures closed at $3.0830/MMBtu, September gasoline futures closed at $2.1186/gallon, and September heating oil futures closed at $2.2999/gallon.

02:02:58

ICE Futures data showed that Brent crude oil speculators increased their net long position by 33,959 contracts to 261,352 contracts in the week ended July 29.

01:34:46

Intercontinental Exchange: Brent crude oil speculators increased their net long position by 33,959 contracts to 261,352 contracts in the week ending July 29.

01:04:08

Baker Hughes: U.S. drillers cut the number of oil and gas rigs for the second consecutive week.

23:15:29

Brazil's national oil agency (ANPC) reported that in June, Brazil's oil and gas production reached 4.9 million barrels per day (bpd). Oil production reached 3.757 million bpd, up 10.1% year-on-year.

23:15:22

Brazil's National Petroleum Agency: Brazil's natural gas production reached 181.64 million cubic meters per day in June, a year-on-year increase of 20.9%.

22:57:32

Brent crude futures fell by more than $2 per barrel due to OPEC+ production cuts and economic data.

22:51:51

Brazil's oil and gas production was 4.9 million barrels of oil equivalent per day in June, the regulator said.

22:14:07

The main Brent crude oil futures contract just touched the $70.00/barrel mark and was last quoted at $70.00/barrel, down 2.48% on the day.

22:06:46

Nymex US crude oil futures fell 2.01% to $67.87 per barrel

22:02:05

Brent crude oil futures fell 2.02% to $70.33 per barrel.

22:01:36

The main Nymex crude oil futures contract just broke through the $68.00/barrel mark and was last reported at $67.99/barrel, down 1.83% on the day.

20:35:55

[Source: OPEC+ may further increase oil production on Sunday] Sources revealed that OPEC+ is expected to approve a new round of production increases on Sunday, and the group is still discussing the specific scale of production increases in September. OPEC+ currently supplies about half of the world's crude oil. In recent years, it has been supporting the oil market by reducing production, but this year it changed its strategy and began to increase production to compete for market share, while responding to US President Trump's call for OPEC to increase production and lower gasoline prices. Three sources said that eight members of OPEC+ may increase their daily production by 548,000 barrels in September; another source said that discussions on the specific scale of production increases are still ongoing, and the final increase may be lower than this figure. (Refinitiv)

18:57:09

Nymex US crude oil futures fell 1.04% to $68.54 per barrel

18:52:19

Brent crude oil futures fell 1.01% to $71.06 per barrel.

18:37:18

[Oversupply alarms sound, why does the Asian fuel oil market continue to weaken?] ⑴ The Asian Very Low Sulfur Fuel Oil (VLSFO) market continued to weaken, with the high-sulfur to low-sulfur price gap narrowing. ⑵ The Singapore VLSFO spot premium fell to $1 per ton for mid-August shipment, and spot quotes for late August also generally weakened. ⑶ The main reason for the market weakness is supply pressure. ⑷ Asia is expected to receive a large number of arbitrage cargoes in August, resulting in an ample market supply. ⑸ In addition, the weakness in the low-sulfur fuel oil market also affected the high-sulfur to low-sulfur price gap. ⑹ LSEG data shows that the gap closed at $82 per ton on Friday, narrowing from the previous week. ⑺ Despite a decline in fuel oil inventories, with data from a Dutch consultancy showing that fuel oil inventories in the ARA region fell 1.7% week-on-week to 980,000 tons, the outlook for ample supply continued to dominate market sentiment. ⑻ Uncertainty caused by Trump's tariff rhetoric and market concerns about a slowdown in the global economy and oil demand also put pressure on oil prices.

18:30:40

Trump's Trade Stick: A "Butterfly Effect" in the Oil Market? ⑴ Trump's demand that India stop importing Russian oil could threaten billions of dollars in Russian revenue. ⑵ India has become the largest buyer of Russian oil since 2022, purchasing up to 2 million barrels per day, representing 2% of global supply. ⑶ Given the critical importance of the Indian route to Russia, JPMorgan analysts believe that if it is blocked, Russia may retaliate by shutting down the CPC pipeline. ⑷ The pipeline carries oil from Western oil companies to the market, and its closure would have a negative impact on the West. ⑸ Furthermore, if India halts purchases, Russia will need to store oil on tankers and offer deeper discounts to new buyers, potentially leading to a gradual decline in its oil production. ⑹ JPMorgan notes that excluding the world's second-largest oil exporter from the global market is unfeasible, as this could cause oil prices to soar. ⑺ A simultaneous disruption of the CPC pipeline and the Indian oil route would create a supply gap of 3.5 million barrels per day, representing 3.5% of global supply. (Refinitiv)

18:03:35

[Oil Market Fluctuations: Why is Middle Eastern Crude Oil Bucking the Trend?] ⑴ Despite record-high US crude oil production, spot premiums for Middle Eastern benchmark crudes remain strong. ⑵ Benchmarks such as Oman, Dubai, and Murban are trading at premiums exceeding $3 per barrel. ⑶ This trend is primarily driven by concerns about Russian oil sanctions and strong demand from India. ⑷ Traders revealed that Indian refiners have pre-ordered some crude oil from the Middle East and Africa to mitigate the risk of supply disruptions from future sanctions. ⑸ In addition, Pakistani refiner Cnergyico also imported 1 million barrels of crude oil from the US for the first time, demonstrating shifts in global crude oil trade flows. ⑹ This crude oil is expected to arrive in the second half of October. If commercially viable, Pakistan may import at least one cargo per month going forward. ⑺ Market trading data shows that the cash Dubai premium to swaps is $3.05 per barrel. ⑻ Despite other factors, geopolitical concerns and shifts in buyer structural demand are becoming key drivers of oil prices.

17:16:31

[Chevron Earnings Preview: Quarterly Revenue May Fall 14% Due to Falling Oil Prices, But Analysts Remain Positive] ⑴ On Thursday (August 1st) Beijing time, oil giant Chevron (CVX) shares fell 1% to $151.81 as the market awaited its upcoming quarterly earnings. ⑵ According to LSEG data, Wall Street analysts expect Chevron's operating revenue to fall 14% year-over-year to $44 billion. ⑶ Earnings per share are expected to be $1.70, significantly lower than $2.55 in the same period last year. ⑷ The main reason for the decline in earnings is volatility in the crude oil market from April to June. ⑸ Continued production increases by the OPEC+ group of oil-producing countries put pressure on oil prices, causing Brent crude oil to fall approximately 10% last quarter. ⑹ Despite the weak earnings forecast, analysts remain optimistic. ⑺ According to LSEG data, 24 analysts have an average "buy" rating on Chevron, with a median price target of $168. ⑻ In the past eight quarters, Chevron has exceeded or met earnings per share expectations five times. ⑼ In addition, Chevron's stock price has risen by approximately 5% this year, outperforming the S&P 500 Energy Index, which has risen by approximately 2% over the same period.

16:28:26

[Russian pipeline natural gas exports to Europe surge 37%: TurkStream becomes sole route to Europe, supply recovery draws attention!] ⑴ On Friday (August 1st, Beijing time), Reuters calculations showed that Russian energy giant Gazprom's average daily natural gas supplies to Europe increased by 37% month-on-month in July. ⑵ This followed a reduction in June due to maintenance work. ⑶ After Ukraine chose not to extend its five-year transit agreement with Moscow, the TurkStream submarine pipeline has become the sole transit route for Russian natural gas to Europe. ⑷ Data from European gas transmission group Entsog shows that Russian natural gas exports via the TurkStream pipeline increased from 37.6 million cubic meters per day in June to 51.5 million cubic meters per day in July. ⑸ This figure is 4.7% higher than the 49.2 million cubic meters per day in July 2024. (6) According to Reuters calculations, total Russian natural gas supplies to Europe via the TurkStream pipeline in the first half of this year were approximately 9.93 billion cubic meters, compared to 9.3 billion cubic meters in the same period last year. (7) Gazprom has not published monthly statistics since the beginning of 2023 and did not respond to requests for comment. (8) At its peak in 2018-2019, annual Russian natural gas flows to Europe reached 175 to 180 billion cubic meters.

15:33:59

The Gaza ceasefire has broken down, the Russia-Ukraine deadlock continues, and geopolitical risks may continue to push up oil prices. Details>

11:04:12

[International Oil Prices Remain Steady, Amidst the Dual Tensions of Trade Policy and Geopolitical Risks] 1. International oil prices were largely flat in early trading on Friday, with Brent crude down 0.16% to around $71.66 per barrel and WTI down 0.06% to around $69.21 per barrel. Despite weekly gains of 4.9% and 6.4%, respectively, the market is cautiously assessing the potential impact of new US tariffs on global energy demand. US President Trump signed an executive order imposing tariffs ranging from 10% to 41% on dozens of economies, including Canada and India, sparking market concerns about slowing economic growth. 2. Analysts warn that the new tariffs could push up commodity prices and dampen economic activity, thereby weakening oil consumption. This concern partially offsets support from Russian supply risks. The Trump administration has threatened China and India with a 100% secondary tariff if they continue to purchase Russian crude oil. JPMorgan Chase estimates that this move could impact Russia's seaborne exports by 2.75 million barrels per day. Market insiders pointed out that sanctions on Russia, the world's second-largest oil exporter, may lead to a supply gap, but policy implementation faces real challenges. 3. The current oil market presents a clear pattern of bull-bear game: on the one hand, the economic slowdown expectations brought about by the Federal Reserve keeping interest rates unchanged and the impact of tariff policies are bearish; on the other hand, the risk of obstruction of Russian crude oil exports constitutes a strong support. Traders said that in the short term, oil prices may remain volatile, and it is necessary to pay close attention to the performance of US economic data and the evolution of the situation between Russia and Ukraine. The strengthening of any factor may disrupt the current balance.

10:34:21

【Short-term operation suggestion for US crude oil: fluctuate upward, buy on dips】 (1) Analysis reason: Due to the supply-side concerns and the recovery of market risk appetite, oil prices rebounded, while the downward trend in medium-term demand and the uncertainty of global trade limited the rise in oil prices. The short-term technical level will maintain a fluctuating upward trend, waiting for confirmation of the retracement, and continue to pay attention to changes in the geopolitical situation. (2) Key focus: Geopolitical situation, global trade sentiment, EIA inventory data (3) Resistance: 70.00, 70.80, 71.00 (4) Support: 68.60, 68.00, 67.50

09:46:22

[Two departments: The price of natural gas pipeline transportation within the province should implement a unified pricing model] The National Development and Reform Commission and the National Energy Administration issued the "Guiding Opinions on Improving the Price Mechanism of Natural Gas Pipeline Transportation within the Province to Promote High-Quality Development of the Industry". It is mentioned that the price of natural gas pipeline transportation within the province should implement a unified pricing model, transitioning from "one price per line" and "one price per enterprise" to regional pricing or a unified price across the province, to achieve effective connection with the inter-provincial natural gas pipeline transportation price mechanism and help form a "national network". During the transition period, methods such as setting benchmark prices can be adopted to guide pipeline operating companies to survive the fittest, integrate resources, and improve the efficiency of pipeline network operation.

08:45:50

[Analyst: The impact of US tariffs on oil prices may be two-way] Oil prices opened almost unchanged this morning, with Brent crude oil close to $72 per barrel. Some analysts say that for crude oil, the impact of tariffs is two-way. As the impact of widespread trade tariffs is expected to slow economic growth, this will have a negative impact on oil demand. However, other related US penalties - especially those threatened against Russian oil buyers - may disrupt supply, thereby supporting oil prices.

07:28:37

South Korean Ministry of Foreign Affairs: South Korean Foreign Minister expressed to US Secretary of State Rubio the hope to develop cooperation between the two countries in the fields of artificial intelligence, nuclear energy, and quantum technology

03:36:26

International oil prices fell on July 31. As of the close of the day, the price of light crude oil futures for September delivery on the New York Mercantile Exchange fell by 74 cents to close at US$69.26 per barrel, a drop of 1.06%; the price of London Brent crude oil futures for September delivery fell by 71 cents to close at US$72.53 per barrel, a drop of 0.97%.

02:33:32

The settlement price of WTI September crude oil futures was $69.26 per barrel, down 74 cents from the previous price, a drop of 1.06%.

01:19:17

Canada's GDP fell 0.1% in May. Statistics Canada reported on the 31st local time that real gross domestic product (GDP) fell 0.1% in May, the same rate of decline as in April, marking the second consecutive month of contraction. Statistics Canada attributed the May economic downturn primarily to goods-producing sectors, particularly mining, quarrying, and oil and gas. The service sector remained stable in May, while manufacturing grew 0.7%, partially offsetting a 1.8% decline in April after the full implementation of US tariffs, but still 1.1% lower than in March.

00:05:05

Data from the U.S. Energy Information Administration (EIA) showed that natural gas production in the lower 48 states of the United States increased by 0.2% in May from April to 120.6 billion cubic feet per day, and increased by 5.7% from the same period last year.

00:05:05

U.S. Energy Information Administration (EIA): Natural gas production in the Lower 48 states of the United States in April was revised to 120.39 billion cubic feet per day, down from the previously reported 120.31 billion cubic feet per day.

00:05:04

U.S. Energy Information Administration (EIA): U.S. crude oil production increased by 24,000 barrels/day to 13.488 million barrels/day in May (revised to 13.464 million barrels/day in April).

23:49:50

The main Brent crude oil futures contract just hit the $71.00/barrel mark and is currently trading at $71.00/barrel, down 2.27% on the day.

23:26:57

Nymex US crude oil futures fell 2.00% to $68.60 per barrel

23:10:24

Brent crude oil futures fell 2.01% to $71.19 per barrel

23:03:00

[ANZ: Crude oil inventories are expected to increase significantly later this year] ANZ analysts said that due to continued sluggish demand growth and signs of slowing gasoline consumption in the United States, oil market fundamentals indicate that OPEC+ has limited room to increase production to the market. According to the company, OPEC+ is expected to approve a production increase of 500,000 barrels per day in September, thus completing the lifting of voluntary production cuts. "This should not be a problem at present," said analysts Daniel Hynes and Soni Kumari. "Currently, inventories in major markets are flat or slightly lower than the same period last year." However, ANZ still expects inventories to increase significantly later this year and estimates that the supply surplus will reach 1.74 million barrels per day in the fourth quarter. (Dow Jones)

23:01:39

Oil prices fell after three days of gains. Oil prices fell after three days of gains, driven by a series of trade deals reached by the United States before Friday's tariff deadline and the threat of sanctions against Russia and its oil buyers. Neil Crosby of Spartan Commodities noted in a report that if high tariffs were imposed on Russian oil buyers such as India, the market reaction would "undoubtedly be strong." He said that while these threats might not be fully realized or last long, the displacement of Russian crude oil would be primarily concentrated in the Dubai market, with increased demand for West African crude, WTI crude, and "possibly some other European grades." WTI crude fell 0.7% to $69.53 a barrel. September Brent crude fell 0.8% to $72.68 a barrel. (Dow Jones)

23:01:32

The main Nymex crude oil futures contract just broke through the $69.00/barrel mark and was last reported at $68.99/barrel, down 1.44% on the day.

22:32:00

The EIA's natural gas inventories in the United States for the week ending July 25 were 48 billion cubic feet, compared with expectations of 37 billion cubic feet and the previous value of 23 billion cubic feet. As of the week ending July 25, total natural gas inventories in the United States were 3,123 billion cubic feet, an increase of 48 billion cubic feet from the previous week and a decrease of 123 billion cubic feet from the same period last year, a year-on-year decrease of 3.8%. At the same time, they were 195 billion cubic feet higher than the five-year average, an increase of 6.7%.

22:31:37

The EIA said U.S. natural gas inventories rose 48% last week.

21:13:49

Nymex US crude oil futures fell 1.01% to $69.29 per barrel

21:00:48

Sinopec's First-H1 Net Profit Expected to Decrease by 39.5%-43.7% (Note: The original text appears to be corrupted and should be omitted.) (1) Sinopec expects net profit attributable to parent company shareholders to be between 20.1 billion and 21.6 billion yuan in the first half of 2025, a year-on-year decrease of 39.5% to 43.7%. The company stated that it has stepped up efforts to optimize production and operations and control costs. (2) The decline in performance is primarily due to the sharp drop in international crude oil prices, intensified competition in the petroleum and petrochemical markets, and low chemical gross profit margins.

21:00:38

China's INE crude oil futures have just broken through the 530.0 yuan/barrel mark and are currently trading at 530.1 yuan/barrel, down 0.36% on the day.

20:54:08

Cathay Pacific and Haitong Securities: The Coal Industry May Have Bottomed Out, Maintaining an "Overweight" Rating. (1) A Cathay Pacific and Haitong Securities research report indicates that the coal industry has escaped the "prisoner's dilemma under cash flow pressure," and the second quarter of 2025 may represent a mid-term fundamental bottom. (2) By comparing the supply structure differences with cyclical industries such as polysilicon and glass, we maintain an "Overweight" rating on the coal industry.

19:39:53

Crude oil futures are under pressure from tariffs and are at risk of falling to the $60 support level. Details>

19:01:29

[Undercurrents in the Asian Oil Market: Naphtha Backwardations Widen, Gasoline Cracks Soar!] ⑴ On July 31, the price structure of the Asian naphtha market shifted, with backwardation widening to $3.50 per ton. ⑵ Cargo prices for the first half of September rose for the second consecutive trading day. ⑶ The naphtha crack spread against Brent crude oil remained little changed, remaining at around $64 per ton. ⑷ The gasoline crack spread rose to $7.92 per barrel on Thursday, up from $7.28 the previous day. ⑸ Market participants said benchmark gasoline trading resumed after a four-day hiatus. ⑹ Data from the U.S. Energy Information Administration (EIA) showed that U.S. gasoline inventories fell by 2.7 million barrels to 228.4 million barrels as of the previous week, far exceeding analysts' expectations of a 600,000-barrel drop. ⑺ Light distillate inventories in Singapore fell to a two-week low, reaching 12.748 million barrels in the week ending July 30. ⑻ India's state-owned refiners have stopped buying Russian oil as discounts narrow and Trump's tariff rhetoric sparked market concerns. ⑼ Shell's second-quarter net profit fell by nearly a third, but still easily beat analyst expectations. ⑽ Trade sources say Asia is expected to increase imports of U.S. West Texas Intermediate crude oil in the fourth quarter as Middle East oil prices strengthen and open up an arbitrage window.

18:53:08

[Gas Giant Profit Warning: Weak Helium Demand and Downturn in US Manufacturing Affect Double Hits] ⑴ Air Products lowered its fourth-quarter profit forecast on Thursday and narrowed its full-year profit target. ⑵ This was primarily due to weak helium demand, project withdrawals, and the lingering impact of the previous sale of its liquefied natural gas (LNG) business, which dragged down sales. ⑶ The continued slump in US manufacturing in June weakened business and consumer confidence, directly impacting demand for Air Products' gases and related services. ⑷ The chemical industry is struggling with inventory destocking and facing weak demand in key markets such as China and Europe. ⑸ Air Products expects fourth-quarter adjusted earnings per share of $3.27 to $3.47, below the average analyst estimate of $3.48. ⑹ The company now expects adjusted earnings per share of $11.90 to $12.10 for fiscal 2025, compared to the previous forecast of $11.85 to $12.15. ⑺ In the third quarter, although the sale of subsidiaries and other assets brought in $99 million in gains, this was offset by $25 million in shareholder activism-related expenses and $24 million in project shutdown cost correction charges. ⑻ During the company's reporting period, strong performance in the European and Asian markets was offset by profit pressure and sales declines in the Americas market, the latter mainly affected by weak helium demand and project exits. ⑼ Operating income in the Americas region fell 4% to $374 million, and the profit margin fell 200 basis points to 29.7%, mainly due to increased maintenance-related depreciation and previously announced project shutdowns. ⑽ Production in the region fell 6%, reflecting reduced production activity and poor helium sales. ⑾ The company reported adjusted profits of $3.09 per share in the April-June period, higher than analysts' expectations of $2.99.

18:19:04

Is the Asian Diesel Market Turning Around? Window Trading Recovers, But Refining Margins Remain Under Pressure. ⑴ The Asian middle distillate market was active during the trading window, with multiple transactions occurring in the first trading session of the week. ⑵ While market structure, spot spreads, and refinery spot sales activity remained largely unchanged, market sentiment has improved. ⑶ Some diesel cargoes remain under discussion at slight discounts for late August loading. ⑷ Refining margins for 10ppm sulfur diesel fell for the third consecutive trading day, closing at approximately $18.6 per barrel. ⑸ The trading window was primarily focused on 500ppm sulfur diesel, but a small 10ppm sulfur diesel transaction slightly dragged down cash premiums, currently assessed at $1.56 per barrel. ⑹ Regarding jet fuel, traders report that July exports from China, South Korea, and Southeast Asia may approach a five-year high, but analysts anticipate a slightly volatile trend in August. ⑺ Despite strong demand, jet fuel shipments from Northeast Asia to the US West Coast have remained low since July, with Kpler vessel tracking data indicating only approximately 150,000 tons shipped to the region in the second half of the month. ⑻ The crack spread widened slightly again, to a discount of approximately $2.65 per barrel. ⑼ Data from the US Energy Information Administration showed that US crude oil inventories rose sharply last week, while gasoline and distillate inventories fell. ⑽ Official data showed that Singapore's middle distillate inventories rebounded to over 8 million barrels from the previous week's level, driven by a decline in net exports on a weekly basis. ⑾ The US Treasury imposed new sanctions on Iranian-linked entities and individuals, while Chevron received a limited license to operate in Venezuela. ⑿ US jet fuel demand rose by 411,000 barrels per day in the week ending July 25, reaching nearly 2.1 million barrels per day, the highest level since December 2017.

17:40:56

Brent crude oil futures fell 1.01% to $71.92 per barrel.

17:29:09

Indonesian officials said the EU's elimination of tariffs on crude oil and palm kernel oil is expected to take effect after the new free trade agreement is ratified, possibly next year.

17:18:46

[Crude Oil Weathervane: Singapore Inventory Movements Reveal Market Truth!] ⑴ Singapore's middle distillate inventory data shows that total inventories rebounded to over 8 million barrels as of the week ending July 30. ⑵ Specific data shows that diesel/gas oil and jet fuel/kerosene inventories increased by approximately 600,000 barrels from the previous week, reaching a total of 8.458 million barrels. ⑶ This inventory rebound was primarily due to a week-over-week decline in net exports. ⑷ Net exports of gas oil and diesel fell 24% month-over-week. ⑸ Meanwhile, net exports of jet fuel and kerosene also plummeted by 37%. ⑹ Notably, total imports of gas oil and diesel surged more than fivefold from the previous week, with imports from South Korea and the United Arab Emirates being the most significant. ⑺ LSEG ship tracking data indicates that an additional 286,000 tons of oil products from South Korea and other countries are expected to arrive in Singapore in the coming week. ⑻ Despite this, the "swing barrels" from India and the Middle East, intended for shipment to Singapore next month, have not yet appeared. ⑼ Total diesel and gas oil exports fell 5% week-over-week, primarily to Australia and Indonesia. ⑽ For jet fuel and kerosene, imports from China were recorded for the first time in nearly a month. ⑾ Total jet fuel exports fell 35% week-over-week, despite some shipments to Mexico. ⑿ Trade sources revealed that this week's exports to the United States may have been sustainable aviation fuel, with approximately 33,000 tons of "green" jet fuel loaded in Singapore for the U.S. West Coast market.

16:36:49

The official selling price (OSP) for Omani crude oil was calculated at $71.2 per barrel in September, up $1.83 from $69.37 per barrel in August.

15:05:04

[The First Shale Oilfield in Southwest my country Found] On July 31, reporters learned from the Sinopec News Office that the first phase of Fuxing Oilfield's proven geological reserves of 20.106 million tons of oil and 12.352 billion cubic meters of natural gas, submitted by Sinopec Exploration Company and Jianghan Oilfield, successfully passed the review of the Ministry of Natural Resources. This marks the birth of the first shale oilfield in my country's Sichuan Basin and the first oilfield in Chongqing. This represents a strategic breakthrough in the development of shale oil in Southwest China, opening up new areas for shale oil and gas exploration and a new position for increasing reserves in the Sichuan Basin. It is of great strategic significance to the exploration and development of shale oil in Southwest my country. (CCTV Finance)

14:57:06

Shell's chief financial officer said that lower volatility in liquefied natural gas (LNG) trading in the second quarter reduced opportunities for operational optimization. "We adopted a risk-reduction strategy in oil trading in the second quarter as we saw a disconnect between price fluctuations and fundamentals," he said.

13:50:56

[New Zealand Government lifts ban on offshore oil and gas exploration] On July 31st local time, the New Zealand government lifted the ban on offshore oil and gas exploration. New Zealand Resources Minister Sean Jones pointed out that this move is expected to increase natural gas supply and ease energy cost pressures. However, the decision has sparked strong opposition from local environmental groups, who are concerned that this policy may damage New Zealand's environmental image.

13:46:18

Goldman Sachs: We expect OPEC+ to announce in August a final production increase of 550,000 barrels per day for September. We assume that OPEC+ will maintain its production quota after September. If China's crude oil inventory growth rate is faster than our forecast of 200,000 barrels per day by 2026, the average price of Brent crude oil next year will reach $61 per barrel, $5 per barrel higher than our benchmark price.

13:16:42

[International Energy Agency: Global Electricity Demand to Remain Strong] The International Energy Agency (IEA) released its "2025 Mid-Year Update" on July 30th, predicting that despite economic pressures, global electricity demand will continue to grow strongly through 2026, with renewable energy, natural gas, and nuclear power jointly meeting the increased demand. The report forecasts that global electricity demand will grow by 3.3% in 2025 and 3.7% in 2026. While this represents a slowdown from the 4.4% growth in 2024, it remains significantly higher than the average growth rate of 2.6% between 2015 and 2023. This continued growth is driven by growing demand for electricity to power factories and appliances, cool buildings, operate data centers, and charge electric vehicles. The report predicts that renewable energy will surpass coal as the world's largest electricity source as early as 2025 and no later than 2026, a transition that will be influenced by weather conditions and fuel price trends. Global nuclear power generation is expected to reach a record high, driven by the restart of nuclear reactors in Japan, strong nuclear power growth in the United States and France, and new nuclear power projects in Asia. Natural gas-fired power generation will also continue to grow, gradually replacing the role of coal and oil in the power sector in many regions.

11:40:45

A-Share Midday Market Review: Shanghai Composite Index Falls 0.68% in Fluctuating Lows, AI Software and Hardware Strengthen Across the Board. The three major indices showed mixed gains and losses. As of midday close, the Shanghai Composite Index fell 0.68%, the Shenzhen Component Index fell 0.45%, the ChiNext Index rose 0.43%, and the Beijing Stock Exchange 50 Index rose 0.12%. The turnover of the three stock markets in Shanghai, Shenzhen, and Beijing reached 1.1578 trillion yuan, a 55.6 billion yuan increase from the previous day. Over 3,400 stocks in both markets fell. In terms of sector themes, Zhipu AI, liquid-cooled servers, and assisted reproductive technology rose, while the steel and coal sectors adjusted. Zhipu AI saw strong gains in fluctuations, with Yidian Tianxia hitting its 20cm limit. The liquid-cooled server sector strengthened across the board, with Siquan New Materials hitting its 20cm limit, and Invice and Chunzhong Technology hitting their limit-up limits. The assisted reproductive technology sector continued to strengthen, with Gongtong Pharmaceutical hitting its 20cm limit-up, and Hanshang Group hitting its limit-up limit. The steel sector adjusted, with Chongqing Steel falling over 5%. The coal sector fell across the board, with all stocks in the sector turning red, and Antai Group fell by more than 5%.

10:39:27

【Short-term operation suggestion for US crude oil: fluctuate upward, buy on dips】 (1) Analysis reason: Although the EIA inventory data growth exceeded expectations, it did not cause oil prices to fall, because the market's uncertainty about the geopolitical situation has driven up concerns on the supply side. At the same time, the easing of global trade sentiment has boosted demand expectations and pushed oil prices to rebound. The current technical level shows that it has broken through the pressure range, but there is a need for adjustment of indicators. Waiting for a pullback is the main focus. Maintain a fluctuating upward trend during the day (2) Focus: Geopolitical situation, global trade sentiment, EIA inventory data (3) Resistance: 70.80, 71.50, 71.80 (4) Support: 69.30, 69.00, 68.50

10:32:08

[my country's Big Model Applications Have Exceeded 3.1 Billion Individual User Registrations] The Cyberspace Administration of China (CAC) reports that AI is currently providing services to users through various channels, including web pages, mobile applications, APIs, local deployments, and cloud services. According to incomplete statistics, the total number of individual user registrations for big model applications has exceeded 3.1 billion, and the total number of API call users has exceeded 159 million. (China News Service)

10:23:09

[National Energy Administration: Raw coal production grew steadily in the first half of the year, with industrial raw coal output above designated size increasing by 5.4% year-on-year] Xing Yiteng, Deputy Director of the Development Planning Department of the National Energy Administration, stated that raw coal production grew steadily in the first half of the year, with industrial raw coal output above designated size increasing by 5.4% year-on-year. Oil and gas production also saw stable growth, with industrial crude oil output above designated size increasing by 1.3% year-on-year and industrial natural gas output above designated size increasing by 5.8% year-on-year. Excluding days of operation, the average daily power generation output of industrial power above designated size increased by 1.3% year-on-year. The ability to optimize the allocation of electricity on a large scale has been further enhanced, with the commissioning of ultra-high voltage direct current transmission projects such as Longdong-Shandong and Hami-Chongqing. Since the peak summer season, the historically high power load of 1.508 billion kilowatts has been effectively met, and orderly power consumption has not been implemented nationwide. (National Energy Administration)

10:12:56

[my country's first shale oilfield is born in the Sichuan Basin] According to Sinopec, the first phase of Fuxing Oilfield's proven geological reserves of 20.106 million tons of oil and 12.352 billion cubic meters of natural gas submitted by Sinopec Exploration Branch and Jianghan Oilfield has passed the review of the Ministry of Natural Resources, marking the birth of my country's first shale oilfield in the Sichuan Basin.

09:34:43

[National Bureau of Statistics: Price Index Continues to Rise] Affected by factors such as the recent rise in prices of some bulk commodities, the purchasing price index and ex-factory price index of major raw materials were 51.5% and 48.3% respectively, up 3.1 and 2.1 percentage points from the previous month. Among them, the purchasing price index of major raw materials rose above the critical point for the first time since March this year, and the overall level of manufacturing market prices has improved. From the industry perspective, the purchasing price index and ex-factory price index of major raw materials in industries such as petroleum, coal and other fuel processing, and ferrous metal smelting and rolling processing have rebounded significantly, and market prices in related industries have improved.

07:28:27

South Korea's presidential office said the liquefied natural gas (LNG) import deal would mean a "slight" shift in imports from the Middle East to the United States.

07:24:20

South Korea's presidential office said the United States proposed setting up a $200 billion fund similar to Japan's for semiconductors, nuclear energy and biotechnology.

07:05:53

The South Korean Presidential Office announced that $200 billion will be allocated to the chip, nuclear, battery, and biotechnology sectors. Shipbuilding funds will be used for shipbuilding, repair, and equipment purchases. The rice and beef markets will remain closed. Businesses actively raised suggestions during the talks.

06:19:56

US President Trump: South Korea has agreed to invest a large amount of money for its investment purposes and will open its market to the United States. South Korea will purchase $100 billion worth of liquefied natural gas or other energy products, and South Korea will pay the United States $350 billion for investment projects owned and controlled by the United States. (Refinitiv)

03:55:13

Trump says he will choose oil company to lead Pakistan partnership. (Refinitiv)

03:42:17

International oil prices rose on the 30th. As of the close of the day, the price of light crude oil futures for September delivery on the New York Mercantile Exchange rose by 79 cents to close at US$70.00 per barrel, an increase of 1.14%; the price of London Brent crude oil futures for September delivery rose by 73 cents to close at US$73.24 per barrel, an increase of 1.01%.

03:38:00

According to sources, the Canadian liquefied natural gas project led by Shell has encountered problems in its process of increasing production.

02:36:24

WTI September crude oil futures closed at $70.00/barrel, NYMEX August natural gas futures closed at $3.0450/MMBtu, NYMEX August gasoline futures closed at $2.2691/gallon, and NYMEX August heating oil futures closed at $2.4185/gallon.

02:24:19

Mexico’s Finance Ministry lowered its 2025 crude oil production forecast to 1.762 million barrels per day (bpd) from the 1.891 million bpd previously estimated in the budget.

01:12:13

Thursday's U.S. Energy Information Administration (EIA) report is expected to show U.S. natural gas inventories rose by 37 billion cubic feet last week, the poll showed.

00:22:02

European natural gas prices near two-week highs as US threatens to punish Russian energy buyers: European natural gas prices near two-week highs after US President Trump threatened to punish India for purchasing Russian energy, sparking market concerns about the global supply outlook. As Trump intensifies pressure on Russia and Ukraine to reach a ceasefire, traders have anticipated possible US action against Russian oil and gas buyers, including India. Trump warned on Tuesday that the US would impose "tariffs and other measures" if Russia fails to reach a ceasefire within 10 days. Earlier, natural gas prices briefly fell after Polish Prime Minister Donald Tusk expressed new prospects for Russia to cease its ongoing incursion into Ukraine.

23:51:27

Indian refiners are seeking clarification from the Indian government on Russian oil. Indian refiners, a significant source of Russian crude oil demand, are seeking clarification from the New Delhi government on whether their purchases will be affected by Trump's latest social media post. On Wednesday, US President Trump said he would impose a 25% tariff on Indian exports to the US starting August 1st and warned of potential additional penalties for India's continued energy purchases from Russia. India became a major buyer of Russian crude oil after the Russia-Ukraine conflict erupted in 2022. Three people familiar with the matter said Indian companies, which purchase over 1 million barrels of Russian crude oil per day, are seeking clarity on what Trump's post means for their purchases.

23:50:42

The main Nymex crude oil futures contract just broke through the $70.00/barrel mark and was last trading at $70.01/barrel, up 1.16% on the day. The main U.S. unleaded gasoline futures contract just broke through the $2.2000/gallon mark and was last trading at $2.2004/gallon, up 1.13% on the day.

23:40:51

WTI crude oil futures rose 1.00% during the day and are now trading at $69.91 per barrel.

22:33:48

The EIA reported that U.S. Strategic Petroleum Reserve inventories were 238,000 barrels in the week ending July 25, compared with -200,000 barrels in the previous week. The EIA reported that U.S. Strategic Petroleum Reserve inventories were 238,000 barrels in the week ending July 25, compared with -200,000 barrels in the previous week. The EIA reported that U.S. crude oil inventories at Cushing, Oklahoma, were 690,000 barrels in the week ending July 25, compared with 455,000 barrels in the previous week. The EIA reported that U.S. refined product imports were -110,000 barrels per day in the week ending July 25, compared with 312,000 barrels per day in the previous week. The EIA reported that U.S. crude oil imports were 1.317 million barrels in the week ending July 25, compared with -740,000 barrels in the previous week. The EIA reported that U.S. refined oil production was 130,000 barrels per day in the week ending July 25, compared with 95,000 barrels per day in the previous week. The EIA reported that U.S. gasoline production was 676,000 barrels per day in the week ending July 25, compared with 282,000 barrels per day in the previous week. The EIA crude oil inventory data for the week ending July 25 was 7.698 million barrels, compared with expectations of -1.288 million barrels and the previous reading of -3.169 million barrels. The EIA's total motor gasoline production and implied demand data for the week ending July 25 was 10.0406 million barrels per day, compared with the previous reading of 9.688 million barrels per day.

20:40:00

The main U.S. unleaded gasoline futures contract just broke through the $2.1800/gallon mark and was last reported at $2.1804/gallon, up 0.21% on the day. The main Brent crude oil futures contract just touched the $72.00/barrel mark and was last reported at $72.00/barrel, up 0.36% on the day.

19:45:42

WTI Crude Oil Hits Key Resistance Level, Can Bulls Break Through? Details>

18:28:25

Nymex US crude oil futures fell 1.01% to $68.51 per barrel

18:17:05

The main Brent crude oil futures contract just touched the $71.00/barrel mark and was last quoted at $71.00/barrel, down 1.05% on the day. The main U.S. unleaded gasoline futures contract just broke through the $2.1600/gallon mark and was last quoted at $2.1592/gallon, down 0.77% on the day.

18:16:14

Brent crude oil futures fell 1.01% to $71.03 per barrel.

18:03:17

[Major Transformations in the Wind Power Supply Chain: How Nippon Steel Corporation (NSM) is Leveraging the Global Energy Landscape?] ⑴ Nippon Steel Corporation (NSM) announced on July 30, 2025 (Beijing time) that it has signed a memorandum of understanding with Danish wind turbine giant Vestas Wind Systems to supply steel for wind turbine towers for the European, Asian, and Japanese markets. ⑵ This agreement is part of a broader strategic initiative by Japan's Ministry of Economy, Trade and Industry (METI) to strengthen the country's wind power supply chain, aiming to reduce import costs and dependence on fossil fuels through renewable energy. ⑶ While offshore wind power is central to Japan's renewable energy strategy, the country currently relies heavily on imported wind turbines and related components. ⑷ Vestas has secured several major contracts in Japan, including the construction of a 375-megawatt offshore wind farm in Akita Prefecture. ⑸ Previously, METI also launched cooperation frameworks with Siemens Gamesa Renewable Energy and GE Vernova of the United States to promote public-private partnerships in wind power, hydrogen, and ammonia. ⑹ Japan has set a goal of achieving 45 GW of offshore wind power capacity by 2040 to reduce its reliance on imported coal and natural gas for power generation. ⑺ However, despite three major auctions, Japan's wind power development plans continue to face challenges due to soaring costs and project delays.

18:01:10

[Major Transformations in the Wind Power Supply Chain: How Nippon Steel Corporation (NSM) is Leveraging the Global Energy Landscape?] ⑴ Nippon Steel Corporation (NSM) announced on July 30, 2025 (Beijing time) that it has signed a memorandum of understanding with Danish wind turbine giant Vestas Wind Systems to supply steel for wind turbine towers for the European, Asian, and Japanese markets. ⑵ This agreement is part of a broader strategic initiative by Japan's Ministry of Economy, Trade and Industry (METI) to strengthen the country's wind power supply chain, aiming to reduce import costs and dependence on fossil fuels through renewable energy. ⑶ While offshore wind power is central to Japan's renewable energy strategy, the country currently relies heavily on imported wind turbines and related components. ⑷ Vestas has secured several major contracts in Japan, including the construction of a 375-megawatt offshore wind farm in Akita Prefecture. ⑸ Previously, METI also launched cooperation frameworks with Siemens Gamesa Renewable Energy and GE Vernova of the United States to promote public-private partnerships in wind power, hydrogen, and ammonia. ⑹ Japan has set a goal of achieving 45 GW of offshore wind power capacity by 2040 to reduce its reliance on imported coal and natural gas for power generation. ⑺ However, despite three major auctions, Japan's wind power development plans continue to face challenges due to soaring costs and project delays.

17:54:18

[Asian Fuel Oil Market: Crack Spreads Plunge Deeply, Is a Supply Flood Imminent?] ⑴ On July 30th, Beijing time, crack spreads in the Asian fuel oil market continued to decline, primarily due to the recent rise in crude oil prices, while spot premiums and discounts for key fuel oil varieties remained stable amid light trading. ⑵ LSEG data showed that the Singapore 380-cst high-sulfur fuel oil (HSFO)-Dubai crack spread fell to a discount of approximately $7 per barrel, the lowest point since early November last year. ⑶ Meanwhile, the very low-sulfur fuel oil (VLSFO) crack spread also fell from the previous day to a premium of nearly $7.50 per barrel. ⑷ The market is closely monitoring fuel oil supply in Asia in August, as July cargoes have already increased significantly compared to June. ⑸ Vessel tracking data indicates that at least 3 million tons of fuel oil are expected to arrive in Asia in August, with more cargoes expected in the coming weeks. 6. India's HPCL has issued a tender for two HSFO cargoes, scheduled to load from Vizag between August 23 and 25. 7. In addition, Fujairah heavy fuel oil inventories fell 23.2% to 7.94 million barrels, or approximately 1.25 million tons, in the week ending July 28.

17:25:30

UK Gas and Electricity Markets Office (Ofgem): Announced a major review of how costs are allocated in the energy system.

17:23:26

The main low-sulfur fuel oil futures contract rose 2.49%, while positions remained net short. (1) At the close of trading on July 30, the main low-sulfur fuel oil futures contract 2510 rose 2.49%, closing at 116,400 lots. Position data showed that the top 20 futures traders held a net short position of 8,065 lots. (2) Total trading volume for all contracts was 169,100 lots, down 6,559 lots from the previous day. The top 20 futures traders held a long position of 55,500 lots (down 6,130 lots), and a short position of 58,900 lots (down 4,114 lots).

17:09:49

Sinosteel International's newly signed overseas orders accounted for over 80% of its second-quarter orders. (1) Sinosteel International announced that it signed 31 new project contracts in the second quarter of 2025, totaling 2.329 billion yuan. Of these, 17 were domestic projects totaling 377 million yuan, while 14 were international projects totaling 1.952 billion yuan, with overseas orders accounting for 83.8%. (2) As of the end of June 2025, the company had 298 outstanding orders totaling 38.926 billion yuan, including 267 orders currently under execution totaling 21.866 billion yuan and 31 orders pending completion totaling 17.06 billion yuan. (3) The quarterly report highlighted the progress of major projects, including the MMK 2.5 million ton coking EPC and the Xishangzhuang supercritical low-calorific value coal thermal power EPC.

16:32:03

Türkiye's Energy Minister: With the help of Azerbaijan, it is expected that natural gas supplies to Syria will begin on August 2

16:23:35

Oil Market Shock: Trump's Tariff Talk Creates Huge Waves, Is Seven Million Barrels of Supply Hanging on the Line? ⑴ International oil prices continued their upward trend due to Trump's tariff remarks. ⑵ Brent crude and WTI crude both rose 0.6%, having already closed up over 3.5% the previous trading day. ⑶ ING noted that if Moscow fails to reach a ceasefire agreement with Ukraine within 10 days, the United States will impose tariffs on Russia. ⑷ ING emphasized that the impact of US sanctions on the oil market's supply and demand balance will be significant. ⑸ This is because Russia exports over 7 million barrels of crude oil and refined products daily. ⑹ While this situation may provide room for OPEC+ to gradually unwind its subsequent production increases, ⑺ in a worst-case scenario, the global oil market will remain in a supply deficit. ⑻ Meanwhile, traders are closely monitoring the progress of US trade negotiations. ⑼ Market participants are also awaiting the Federal Reserve Chairman's speech for further clues on the path of future interest rate cuts. ⑽ The dual uncertainties of geopolitics and monetary policy have jointly contributed to the current fragile oil price trend.