Commodities

Who won this oil price war?

As OPEC + promotes production cuts, and US oil producers reduce production, and countries around the world gradually relax restrictions on corona outbreaks, investors’ expectations for the crude oil market have gradually improved, and international oil prices have continued to rise.

WTI crude oil futures June contract rose 5.05% to close at 24.74 US dollars / barrel, a weekly increase of 25.08%; Brent crude oil futures prices rose 5.13% to close at 30.97 US dollars / barrel, The weekly increase was 17.13%.

This is also the second consecutive week that international oil prices have risen, and the cumulative increase of WTI crude oil futures for June has reached 46.04% in just two weeks.

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