The concerns about production cuts caused by low temperature weather in Europe have stimulated oil futures to rise. Can the rally continue?

Gold 10 Futures, April 25th, CICC Fortune Futures said that the low temperature weather in Europe has triggered concerns about the reduction of rapeseed production, and the original adjustment rhythm of the domestic and foreign oil markets has been seriously disturbed. The market hype has been quickly activated, and the oil price has stopped falling and rebounded. At present, the market remains highly sensitive to the weather in Europe, waiting for relevant institutions to confirm the degree of European rapeseed production reduction. Judging from the high-frequency data released by institutions, the probability of Malaysian palm oil maintaining export growth and production falling throughout April is very high. The delay in the recovery cycle of inventories has also provided anti-fall support for palm oil prices. Although the current domestic import soybean supply is still tight, with the arrival of Brazilian soybeans in Hong Kong one after another, the recovery in the operating rate of oil plants will also promote the improvement of the soybean oil supply situation. Overall, < b > domestic and foreign oil markets have peaked since early April. The pullback is expected to come to an end due to the impact of European weather. If they can continue to be blessed by bullish factors, they are expected to continue to expand their growth. In addition, the current international geopolitical situation is complex, and it is necessary to pay attention to the impact of unexpected factors on oil and fat and even the entire commodity market.