According to the latest international oil price, as of the close of May 12, the futures price of light crude oil for June delivery in the New York Mercantile Exchange rose by 1.73 USD to close at 83.26 USD per barrel, with an increase of 2. 12%, while the futures price of London Brent crude oil for July delivery rose by 1.72 USD to close at a barrel.

The rise in oil prices is mainly caused by the relationship between supply and demand. Due to the relief of the epidemic and the promotion of vaccination, the expectation of global economic recovery and crude oil demand has been boosted. On the supply side, the Organization of Petroleum Exporting Countries insisted on "limited" expansion of production, the US crude oil stocks declined, and the 60 million barrels of crude oil reserves planned to be released by the International Energy Agency were less than the global daily consumption, further amplifying the market's nervousness about supply shortage.