Second, inventory changes (inventory is a buffer between supply and demand. When the futures price is higher than the spot price, the commercial inventory will increase, which will stimulate the spot price to rise. On the contrary, it caused the spot price to fall).
Third, the market intervention of the Organization of Petroleum Exporting Countries and IEA (they can change the market supply pattern in a short time, thus changing people's expectations of price trends).
Fourth, the outflow or inflow of hot money in the international capital market (when the global financial market lacks investment opportunities, a large number of people enter the international commodity market, especially the market, which will inevitably push up the international market and seriously deviate from the fundamentals).
Exchange rate changes (there is a negative correlation between price changes and exchange rate changes between the US dollar and major international currencies, and the rise of the US dollar puts pressure on the settlement of the US dollar. When geopolitics is in turmoil, it is positively related to the US dollar, and the two complement each other).