Overnight Market Review (2022.9.2) Oil prices rose, Russia will stop supplying oil to countries that support oil price caps, and crude oil prices rose, but crude oil prices will continue to fall for the week due to a possible reduction in Chinese demand and a stronger dollar.
Meanwhile, Russian Deputy Prime Minister Alexander Novak said on Thursday (September 1) that Russia will stop supplying oil and petroleum products to countries that support the U.S. proposal to cap Russian oil prices. Currently, the Group of Seven (G7) nations are discussing a proposal by U.S. President Joe Biden to set a price cap on Russian oil.
As of 19:37 Beijing time (07:37 a.m. EST), the commodity market showed that the U.S. WTI crude oil futures price rose $1.61 or 1.86% to $88.22 per barrel; Brent crude oil futures rose $1.39 or 1.5 %, at $93.75 a barrel.
Trading strategy deployment: it is recommended to do more at low levels
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