What is the relationship between the rise and fall of crude oil prices?

Commodity prices fluctuate around the value of commodities according to the relationship between supply and demand. As an important commodity, crude oil certainly conforms to this law. When supply exceeds demand, commodity prices will fall; On the contrary, when supply is less than demand, commodity prices will rise. In addition to supply and demand, crude oil prices are also affected by the following factors: First, the global economy. Second, the trend of the dollar. Third, geopolitics and weather. Finally, there are some crude oil data worthy of investors' attention: EIA data released every Wednesday, that is, crude oil inventory data, can be called the first short-term influencing factor of crude oil; There are also non-agricultural data, that is, the employment rate, employment rate and unemployment rate of non-agricultural population in the United States. The increase in employment means that the economy is improving and the demand for crude oil is increasing, which is good for crude oil; And the number of active oil wells in the United States. An increase in the number of active oil wells indicates an increase in production, which is bad for crude oil.

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