Crude Oil Market Analysis:

Brent crude oil has risen above $105 per barrel, WTI crude oil surged over 2% to above $92, then retreated due to expectations of US-Iran détente, currently fluctuating sharply between $90 and $105.
Core drivers: US-Iran conflict → supply concerns → oil prices rise; negotiation expectations → profit-taking → oil prices fall. In the short term, market movements are entirely driven by geopolitical news.
Mainland: On March 23, domestic oil prices were significantly increased, with gasoline up by 1,160 yuan per ton and diesel up by 1,115 yuan per ton. Many regions saw 92-octane gasoline return to the 9 yuan era.
Good news is, a new round of price adjustment window will open on April 7. Currently, the crude oil change rate is -1.07%, with an expected decrease of 50-100 yuan per ton, equivalent to a drop of 0.05-0.08 yuan per liter. Car owners can finally breathe a sigh of relief.
Late March to early April operational considerations:
International crude oil: support at $90, resistance at $105. If the situation escalates past $105, look for $110+; if tensions ease and prices fall below $90, watch for $85.
Domestic oil prices: Likely to decrease significantly on April 7, with future trends fully following international crude oil prices. If geopolitical tensions persist, large drops in oil prices are unlikely.
Trading strategy: Light short-term positions in crude oil futures, avoid chasing rallies or panic selling. Domestic refined oil is mainly for essential consumption, so there’s no need to stockpile oil. #WTI