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Concerns about demand have become the main market tone. Brent crude oil fell to a six-month low at one point, while US oil fell more than 4% during trading hours.
Despite the significant escalation of geopolitical tensions in the Middle East this week, which once briefly pushed up crude oil prices, the concern about economic recession has become the main market sentiment, and investors are worried about the demand for crude oil. Oil prices fell sharply on Friday, falling for four consecutive weeks, marking the longest decline since December last year.
Rate cut in September? Wall Street analysts interpret the Fed's decision: not so absolute.
The Federal Reserve has sent a message to the public that they do not want investors to be certain that they will cut interest rates by 25 basis points in September, because there is still more economic data to consider before September.
Wall Street determines: Trump's bearish on oil prices.
Goldman Sachs and Citigroup both believe that Trump's tariff policy may bearish for oil prices. Goldman Sachs said that if tariffs severely affect the global economy, oil prices may fall by $11 to $19 per barrel next year.
The list of Hong Kong stock connect ETFs has been adjusted under the Shenzhen-Hong Kong stock connect. Added to the list are iShares Core MSCI China Index ETF (02801) and W.I.S.E. - CSI HK 100 Tracker (02825), among others.
On July 12th, the Shenzhen Stock Exchange announced the adjustment of the Hong Kong stock through train ETF list, adding iShares Core MSCI China Index ETF (02801), W.I.S.E. - CSI HK 100 Tracker (02825), CSOP FTSE China A50 ETF (03040), ChinaAMC Hang Seng Index ETF (03069), Ping An of China CSI HK Dividend ETF (03070), and iShares Core Hang Seng Index ETF (03115), which will take effect on July 22nd.
OPEC Monthly Report: Oil supply shortages may occur in the coming months as countries such as Russia have not yet fulfilled their production cuts.
On Wednesday, according to the latest monthly report from OPEC, although Russia significantly reduced its crude oil production in June, the three main OPEC+ members, Russia, Iraq, and Kazakhstan, still supply tens of thousands of barrels per day more than their quotas set earlier this year.
Global commodity inventory is in a state of emergency: inventory days of available commodities outside of China experienced the largest month-on-month decline in 31 months.
JPMorgan said that the main reason for this decline was due to the decrease in crude oil and refined product inventories. The global available days of oil and refined products in June decreased sharply by 2.5 days, the largest monthly decline in four years.