piratemegaways| Iranian President Lehi's helicopter crash has limited impact: WTI crude oil is expected to rise 5%

News summary

Iranian president and foreign minister killed in helicopter crashpiratemegaways, commodity markets fluctuated, precious metal prices surged, and the crude oil market was relatively stable. Saudi Crown Prince has postponed his visit to Japan, and the king's health has attracted attention. Analysts predict that WTI crude oil may rise to 83piratemegaways$.50, boosting measures to boost China's housing market will boost oil prices. The market's reaction to political factors is becoming increasingly numb, focusing on supply stability and the OPEC + oil production plan.

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[The crash of the Iranian President's helicopter triggered market changes, and gold and silver prices rose while crude oil was slightly deserted.] After the unfortunate deaths of Iranian President Leahy and Foreign Minister Abdurlahiyan, the capital market experienced significant fluctuations, and the prices of precious metals rose rapidly. Prices such as gold and silver rose sharply. At the same time, despite major political events in the Middle East, fluctuations in the crude oil market have been relatively limited. Commodity market reactions complex precious metals marketpiratemegawaysThe rise in the crude oil market is in sharp contrast to the calmness of the crude oil market. According to monitoring, Brent crude oil futures prices rose slightly by 0.0%piratemegaways.43%, and WTI crude oil futures prices rose 0.3%. The previous week, Brent crude recorded a 1% gain, achieving its first gain in three weeks. Saudi Arabia's political risks have emerged in addition to the Iranian plane crash, but Saudi Arabia's political risks have also received attention. The country's Crown Prince Mohammed bin Salman postponed a visit to Japan citing doubts about Saudi King Salman's health. Japan's official cabinet secretary, Lin Fangzheng, revealed that King Salman is currently receiving treatment for lung inflammation. Oil prices face uncertainty IGMarkets analyst Tony Sycamore pointed out that political instability in the two oil-producing countries has an impact on the crude oil market. He predicts that WTI crude oil prices may rise to US$83.5, an increase of about 5% from current levels. At the same time, China's real estate boost measures are also considered to be a potential driving force for rising oil prices. Saudi energy strategy is expected to remain continuity, MSTMarquee energy analyst Saul Kavonic said that despite concerns about King Salman's health, the energy strategy under the leadership of the Saudi Crown Prince is expected to continue. The market is numb to geopolitics Warren Patterson, head of commodity strategy at ING, suggested that the oil market maintains range fluctuations and the market is less sensitive to geopolitics. This may be related to OPEC having a large amount of idle production capacity, making the market less worried about supply issues. OPEC + meeting becomes a key factor Market participants are waiting for the results of the OPEC + meeting on June 1 in order to obtain a clear next oil production plan. Slowing inflation affects market expectations Last week, inflation in the United States showed signs of slowing, expectations of interest rate cuts were boosted, and the prospect of a depreciation of the US dollar provided support for oil prices. At the same time, the U.S. government purchased 3.3 million barrels of oil to replenish strategic reserves, which had a positive impact on market sentiment.