International crude oil rose sharply in intraday trading on Wednesday, and US oil rose more than 2%.

- Mar 15, 2019-

International crude oil rose sharply in intraday trading on Wednesday, and US oil rose more than 2%. Last week, the US crude oil inventories report did not grow as expected in the industry, but fell by 3.86 million barrels, which undoubtedly boosted market confidence. At the same time, the United States plans to increase sanctions against Venezuela. The domestic situation continues to deteriorate, its crude oil exports continue to decline, and the market is increasingly worried about the supply situation. In addition, the Saudi side continues to release positive signals, and its production cuts will continue until at least the end of June. The good news from many parties has been frequent, and the oil price has risen sharply. The latest monthly reports of the Organization of Petroleum Exporting Countries (OPEC) and the International Energy Agency (IEA), which will be released on Thursday and Friday, have become the focus of the industry, which will be an important evidence for the market's analysis of supply and demand in the international crude oil market. Yesterday, the US WTI crude oil futures price hit a high of 58.19 US dollars / barrel, Brent crude oil futures price hit a maximum of 67.56 US dollars / barrel.