Yangtze Securities: Is it still worth allocating PetroChina, Sinopec, and CNOOC in the face of 'Trump trade' or US recession?

Many environmental factors have changed, leading to potential differences in the crude oil industry in Trump's next term compared to the previous one.

Zhitong Finance22:58 ET

Poor economy drags down the market and soaring risk aversion pressures oil prices to plummet.

This week (8.1-8.7), crude oil product overall showed a trend of falling first and then rising. The average price of WTI this week was $74.24 per barrel, a decrease of $2.54 per barrel or -3.31% from the previous week.

CME Group16:07 ET

Crude Oil Prices Trending Down – NAB Group

FXStreetAug 5 11:22 ET

Oil Prices Fall on Demand Concerns as U.S. Data Points to Slowing Economy

WSJAug 5 04:15 ET

WTI Falls to Near $73.00 Despite Rising Supply Risks Due to Middle East Tensions

FXStreetAug 4 22:30 ET

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.

wallstreetcnAug 2 22:57 ET