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2025-10-30 20:02:15
[Tariff Easing Turns into Oil Price Killer, October Sees Three Consecutive Monthly Declines] ⑴ Institutional quotes showed that Brent crude oil fell 0.65% to $64.50 at 19:36 Beijing time on Thursday, while WTI crude oil fell 0.63% to $60.10, completely erasing Wednesday's huge inventory reduction gains. ⑵ On Wednesday, WTI crude oil inventories plummeted by 6.86 million barrels to 416 million barrels, far exceeding the expected 210,000 barrels, but still couldn't withstand the trade sentiment battle. ⑶ The White House confirmed that Trump's tariff comments lowered China's tariff rate by 10 percentage points to 47% in exchange for China resuming purchases of US soybeans and rare earth circulation. PVM pointed out that the market only saw this as a stopgap measure rather than a breakthrough. ⑷ The Federal Reserve cut interest rates by 25 basis points on Wednesday but hinted that it might stop this year. Rystad said its policy shift is to provide tail support for commodity demand, but investors are more focused on the OPEC+ meeting on November 2, which is expected to increase production by another 137,000 barrels per day. (5) If the meeting confirms the increase in production, the two major indicators that have already fallen by more than 3% in October will record three consecutive months of decline, and technical selling pressure may accelerate the test of the psychological level of $60.
