The impact of the new crown epidemic on oil demand continued to suppress oil prices, and WTI crude oil futures continued to decline during Asian trading hours on Monday (April 27). As of press time, WTI crude oil futures fell more than 10% on the day, reported at 15.54 US dollars / barrel.

　　A week ago, the U.S. oil futures market staged an unprecedented rolling market: in just two hours, the WTI crude oil futures delivered by the New York Mercantile Exchange in May fell successively through the psychological barrier of ten integers from $ 10 to $ 1, staged crude oil The craziest selling in the history of futures fell to a negative value less than half an hour before the close of the day, and finally closed at -37.63 US dollars per barrel, a decrease of 305.97%. But in the second half of the week, the momentum of the oil price plummet stopped. From April 22 to 24, the WTI crude oil June futures contract closed up for three consecutive trading days.

　　During the past week, US President Trump repeatedly blew up the rescue of the US oil industry, and even tweeted Iran on Twitter: "I have instructed the US Navy to shoot down and destroy all Iranian gunboats if they harass us at sea. Ships. "This warning directly pushed oil prices back from the lowest point in 20 years. WTI crude oil futures surged 40% in just two hours.

　　But even so, the situation of severe imbalances in crude oil supply and demand is still difficult to fundamentally alleviate, unless the US new crown epidemic situation turns. In the second half of last week, the WTI crude oil futures that fell from rising to fall still have a curse on their heads: According to CITIC Futures estimates, the current US commercial crude oil storage capacity is 130 million barrels (using 79%), plus pipelines and other transit storage capacity of 260 million barrels (using 66%) ). If accumulating at the current rate, the storage capacity will be filled within 9 weeks, and the storage plus transit capacity will be filled within 18 weeks. Cushing Kuron will fill up within four weeks at the current rate.

　　In the short-term situation where the epidemic cannot improve and oil demand is difficult to recover, the recent rise in the WTI June contract still has the risk of falling into a negative price following the May contract, which is almost a consensus in the market.

　　Surging News Reporter Yang Yang