【Oil Price Analysis】 New York crude futures once plummeted by 10% China National Petroleum Corporation (CNPC) fell 4% against the trend Analysis: The conflict is not over, and oil prices are undergoing technical adjustments At current levels, oil is more worth buying than gold

U.S. President Trump suddenly stated that the Iran conflict “will soon be over”; at the same time, he mentioned considering taking control of the Strait of Hormuz, causing oil prices to plummet by 10% from their highs, with New York crude futures dropping to $84.45. Chinese oil stocks retreated, with China Petroleum (00857) falling 4% in half a day, the largest decline among blue chips for the session, while Shandong Molong (00568) once plunged 30%.

Analysts pointed out that the rapid rise in oil prices, combined with news of easing tensions, led to a technical correction. They believe that as long as international oil prices stay above $78 per barrel, it remains a healthy adjustment. “The daily increase of nearly 20% to 30%, reaching around 110 yuan, is actually quite exaggerated. I think, under such extreme contract conditions, there would be arbitrage opportunities in the short term… But does this mean the conflict is over? Not necessarily, it might just be prolonged.”

He suggested, “If you buy oil-related investment products at lower prices, you might consider selling to lock in profits at the current level… But if you buy at higher levels, it’s better to wait for oil prices to fall again before considering ‘dipping in’ or re-entering the market.”

He also recommended that if you want to invest in commodities at current levels, oil is more worth considering than gold.

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