Harvest S&P Oil & Gas Exploration & Production Select Industry ETF(QDII)(159518.SZ)

Oil prices rise as US supply worries linger after winter storm

Oil prices increased as supply concerns persisted following a winter storm that disrupted U.S. crude output, with Brent crude rising to $67.85 and U.S. West Texas Intermediate to $62.74 per barrel. Analysts estimated a loss of up to 2 million barrels per day in U.S. production. Tensions in the Middle East and a fire at Kazakhstan's Tengiz oilfield contributed to the price rally, although a projected global crude supply surplus may limit further increases. OPEC+ is expected to maintain current output levels in March, with U.S. crude and gasoline stockpiles anticipated to rise.

Trump Cheers A Plunge Of The U.S. Dollar “I Think It’s Great”

Trump expressed support for the decline of the U.S. dollar, stating it benefits business. The U.S. dollar index has broken a long-term trendline, with support levels at ~89 and ~79. Rising deficits and pressure on the Fed are contributing factors. Meanwhile, gold has surpassed U.S. Treasuries as the largest foreign reserve asset, driven by central bank purchases amid inflation concerns. Forecasts suggest gold could average $5,000 per ounce by year-end, while oil prices are also projected to rise, adding to inflation.

Global stock markets rose ahead of tech earnings, with Nasdaq futures up 0.6%. Gold briefly returned to 5,100, and silver rebounded to 110 USD

Under the threat of tariffs from Trump and the risk of a U.S. government shutdown, gold and silver continued their strong upward trend after a brief pullback; meanwhile, optimistic expectations for AI supported technology stocks, with Nasdaq futures rising over 0.6%. The market is focused on the upcoming earnings reports from tech giants to test the sustainability of the rally. The bond market stabilized, with U.S. and Japanese bond yields rising slightly; the yen retreated to around 154.6 after strengthening for two days on intervention expectations; South Korean stocks rebounded, closing up 2.73% after the tariff impact. Market logic revolves around fiscal risks driving safe-haven assets and the tech narrative supporting the stock market structure

Brent crude oil rose by 2.0% during the day, reported at $66.13 per barrel

Deutsche Bank raises its Brent crude oil price forecast by 11% due to expected narrowing of supply surplus

Deutsche Bank analyst Michael Hsueh stated that the bank has raised its 2026 Brent crude oil price forecast to $61.50 per barrel, as it expects the oversupply of crude oil in the second half of the year to narrow. The supply-demand model indicates that entering the second half of 2026, the surplus will be significantly reduced, and the market may tend toward balance or even experience a shortage