How will the announcement of free highway tolls for hydrogen-powered vehicles in many places affect?
Industry insiders say that highway tolls account for about one-third of the total cost of hydrogen commercial heavy trucks. Waiving this fee can significantly reduce vehicle operating costs. From January to June this year, a total of 0.4077 million tons of green hydrogen projects have started, and 906 sets of electrolysis tanks will be tendered in succession. At the same time, the export orders of the electrolysis tanks are rapidly increasing, and the domestic and foreign demand is resonating.
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.
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.
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.
Optimistic prospects for interest rate cuts have led to a general increase in major overseas asset classes such as US stocks, gold, silver, and crude oil. Weekly report on major overseas assets.
After the release of non-farm data for the week of July 1-5, the US stock and bond markets rose and the US dollar came under pressure. Upon realizing the 'data detail' that the data in the first two months before non-farm was cut by 0.11 million, US bonds sharply rebounded and the yield curve became steeper.