Ukrainian crisis continues to ferment, crude oil soars and falls

　　Ukrainian crisis continues to ferment, crude oil soars and then falls

　　The Ukrainian crisis continued to ferment, and oil prices rose and then fell. Brent crude oil futures reached a high of $99.50 in intraday trading, and then fell back. The WTI03 contract rose by US$1.28, or 1.4%, to US$92.35/barrel; the Brent 04 contract rose by US$1.45, or nearly 1.5%, to US$96.84/barrel, and the SC04 contract rose by 3 yuan/barrel, or 0.51%, in the evening trading, reported 588 yuan / barrel.

　　The main contradiction in current market transactions is still the Ukraine crisis and the progress of the Iran nuclear deal. On the one hand, Biden announced further sanctions on Russia on Tuesday, including sanctions on Russian sovereign debt; Brian O'Toole, a senior fellow at the Atlantic Council and a former member of the U.S. Treasury Department's sanctions arm, said that while the action would have an economic impact, and it would represent a further escalation of the situation, but not cause great economic pain. At the same time, the U.S. government said it was working on plans to ensure stable oil supplies and that the sanctions against Russia were not meant to disrupt the flow of energy in global markets. On the other hand, European and Russian diplomats agreed that talks on the Iran nuclear deal were in the final stages, suggesting that tensions in global energy markets could ease slightly if final differences can be settled. In the short term, the Ukrainian crisis has greatly increased the premium of crude oil. From the perspective of news, there are no factors that threaten the future supply of crude oil. Pay attention to prevent the easing of the Ukrainian crisis and the progress of the Iran nuclear negotiation on oil prices. Short-term recommendations remain on the sidelines.

　　Important statement: The content and opinions in this report are for reference only and do not constitute any investment advice.