Factors affecting crude oil prices: 1. Supply and demand (no need to explain too much), 2. Macroeconomics (policies and regulations, inflation, currency exchange rates: mainly the US dollar, interest rates, etc.) 3. International political factors (regional unrest and disputes, wars)

) 4. Linkage of related markets (gold, foreign exchange (mainly US dollars), stocks) 5. Speculative activities and international hot money, 6. Psychological factors (trader’s confidence in the market) It is generally believed that there is one more factor among the above.

The point made by the old master is quite insightful; remember that there is only one thing that really affects the international crude oil price: capital.

Whether funds have entered the crude oil market or whether funds have been withdrawn from the crude oil market.

Funds can be classified into: supply and demand funds, speculation funds, and hedging funds.

1. Supply and demand funds are demand, normal demand in the market.

2. Speculation funds, once the price exceeds the relationship between supply and demand, deviates from the normal value.

Or the occurrence of an abnormal fluctuation is caused by the inflow and outflow of supply and demand funds.