On April 19, the oil and gas sector opened higher, as of press time, Tongyuan Petroleum 20% limit, quasi-oil shares, Bakken Energy, Huibopu 3 shares of the limit, CNOOC Engineering, CNPC, Zhongman Petroleum and so on.
In terms of oil prices, Brent crude oil stood above the $90 per barrel mark, up 3.69% on the day. WTI crude oil stood at $85 per barrel, up 3.55% on the day.
Spot gold continued to expand its gains and is now up nearly 1.3% at $2,409.87.
Israel launched an attack on Iran with a serious explosion!
On the news side, the Israeli-Iraq conflict continues to be tense. According to a report by ABC on the 18th local time, a U.S. official confirmed to ABC News that an Israeli missile hit a location in Iran. (Previous: U.S. officials say: Israeli missile hits target inside Iran)
According to CNN, the flight tracking website Flight Radar 24 showed that on the morning of the 19th local time, at least 8 flights were diverted over Iran.
According to Iran's Fars News Agency reported on the 19th, an explosion occurred in the northeast of Isfahan Province in central Iran. According to the Islamic News Agency, air defense systems have been activated in many places in Iran.
The site of the explosion is close to Isfahan International Airport and the base of the Iranian Air Force, the report says. Local sources said that the cause of the explosion has not yet been determined.
According to Iran's Mehr News Agency reported on the 19th, Imam Khomeini International Airport in Tehran, Iran, has temporarily suspended international flights.
The Iranian aviation department announced that flights at several airports in Mehrabad, Isfahan, Shiraz and other places have also been suspended.
Institutions are optimistic about the high operation of oil prices
Haitong Securities pointed out that it is expected that under the influence of factors such as OPEC+ production cuts, tight global supply, and geopolitical tensions, international oil prices are expected to remain high and fluctuate.
Soochow Securities also believes that the trend of tight balance will not change, and it is optimistic about the high operation of oil prices. From the supply side, in the context of the transformation of the energy structure, the growth rate of capital expenditure of international oil companies has slowed down, and they have used capital expenditure more for dividends, debt repayment and mergers and acquisitions, and tend to obtain an increase in immediate production rather than long-term exploration and development. At the same time, OPEC+ has increased production cuts, and there is a strong willingness to support oil prices. On the demand side, in the short term, China's economic recovery leads the world, the travel boom at home and abroad continues, and the operating rate of refineries remains high. In the medium and long term, it will take time for crude oil demand to peak, and it will continue to grow in the next 3-5 years. On the whole, the supply of crude oil is tight and the demand continues to grow, the gap between supply and demand still exists, and the oil price pivot will continue to be high.
Institutions believe that the gold market may be volatile and upward
Zhang Fan, investment manager of the index and quantitative investment department of Bosera Fund, believes that gold prices are expected to still have room to rise. "The main arguments supporting this view include – first, the Fed has not yet implemented its first rate cut, and market expectations remain. Second, global central banks continue to add to gold. Despite the recent sharp rise in gold prices, I remain optimistic about gold's overall performance in 2024. ”
CITIC Futures analysis pointed out that behind the record high of gold, there is a long-term bullish support such as de-dollarization, the central bank's increase in gold, and increased geopolitical risks, and the technical bull market has been established, and the gold price is expected to rise further in the future.
Source: Beijing Time Comprehensive CBN, CCTV News, Chinanews.com, Nanjing Morning News, Securities Times