supply tightening is expected to rise, international oil prices rebounded significantly

due to the impact of Gazprom (Gazprom)'s announcement of "force majeure" factors in its natural gas supply to Europe and the failure of US President Biden to persuade Saudi Arabia to increase production, the market's expectations for tighter supply have risen, and international oil prices have risen on the 18th. Significantly rebounded.

As of the close of trading on the 18th, the price of light crude oil futures for August delivery on the New York Mercantile Exchange rose by US $5.01 to close at US $102.60 per barrel, an increase of 5.13; the price of London Brent crude oil futures for September delivery rose 5.11 US dollars to close at US $106.27 per barrel, an increase of 5.05.

According to a Reuters report on the 18th, Gazprom stated that the company's business of supplying natural gas to Europe was affected by "force majeure", that is, "major circumstances" beyond its control ". However, the specific circumstances of the "force majeure" have not been disclosed. Sources said that this indicates that the company may further reduce the gas transmission to the main European gas pipeline "Beixi-1.

According to several media reports, Gazprom has sent letters to two German companies, stating that there is "force majeure" on the natural gas supply of these companies ".

online foreign exchange trading platform Anda Asia Pacific market analyst Jeffrey Harley said that if Russia does not resume natural gas supply to Germany after the maintenance of the "Beixi-1" natural gas pipeline, Brent crude oil futures prices will be Get support.

US President Biden's first visit to the Middle East ended on the 16th. During the visit, the United States tried to push Saudi Arabia and other Gulf oil producers to increase production, depress international oil prices and ease inflationary pressures in the United States. However, Saudi Arabia has not made any clear commitment to increase oil production, saying only that it has the ability to increase "capacity" rather than "production".

dollar index also pushed up dollar-denominated crude oil prices. The dollar index, which measures the dollar against six major currencies, fell 0.64 percent on the 18th and closed at 107.366 at the end of the New York foreign exchange market.

, some analysts pointed out that at a time when EU leaders are determined to increase sanctions against Russia, the possibility of Russia announcing a further reduction in natural gas supply to Europe as a response measure increases. Meanwhile, the Organization of the Petroleum Exporting Countries (OPEC) is not interested in the production targets Biden is trying to meet. These factors have raised expectations of tighter supply. In addition, barring a deep recession, commodity supply constraints caused by years of underinvestment could support oil prices.

In order to further reduce its dependence on Russian energy, European countries are actively promoting energy reform and cooperation. European Commission President von der Leyen held talks with President Aliyev in Baku, the capital of Azerbaijan, on the 18th. The two sides promised to expand cooperation in the energy field and increase Azerbaijan's natural gas transmission to Europe. The gas transmission capacity of the "Southern Gas Corridor" project will reach 12 billion cubic meters next year. Algerian President Teben said on the 18th that Algeria will supply more natural gas to Italy.