Price trend

Analysis review

On April 1, the international crude oil futures market continued the decline of the previous trading day, and the decline slowed down on Friday. The settlement price of the main U.S. WTI crude oil futures contract was 99.27 US dollars/barrel, a decrease of 1.01 US dollars/barrel or 1.01%; the settlement price of the main contract of Brent crude oil futures was 104.39 US dollars/barrel, a decrease of 0.32 US dollars/barrel or 0.31%. Previously, the members of the International Energy Agency (IEA) agreed to join the U.S. reserve agreement, releasing oil reserves in coordination for the second time within a month.

Market outlook

Oil prices continued to be under pressure as expectations for a supply contraction in the market caused by the Russia-Ukraine conflict eased slightly.

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