the crude oil market is driven by both macro and fundamentals

At present, the crude oil market is driven by both macro and fundamentals, although there is no substantial weakening at present, it is obvious that the tendency is relatively weak. Recently, it is heard that Iran nuclear talks may restart and supply may increase and OPEC+ production reduction declaration, oil prices have fluctuated. Moreover, oil prices fluctuating significantly on account of the supply side disruption caused by civil unrest in Iraq and Libya. However, as there is no substantial change in fundamentals and the overall oil price is still in range bound. The hawkish statement of the Federal Reserve and the implementation of the final plan for Iran's nuclear negotiations in the future may still have an impact on oil prices, resulting in a weak tendency, and support from the cost side provided for the PE market is relatively mediocre