In the short-term cycle of long-term trend, spot crude oil prices show obvious seasonality, that is, the probability of annual price highs appearing at the beginning of the year is very high, and the annual lows basically appear in the middle of the year. The main reason is that summer is a traditional festival in the west, and the spot crude oil consumption in the east is off-season, so the market shows insufficient demand in stages.

The fluctuation of spot crude oil price has increased.

In recent five years, the fluctuation range of spot crude oil price is close to 40%, and the highest is over 50%. The intraday fluctuation range is generally between 1% and 3%. This is related to the relatively high international spot crude oil price and the unstable world economic and political situation.