On Thursday (April 25), US crude oil fluctuated in a narrow range in Asia, trading at 82.Haktuts50spinscoinmasterAround .72 dollars per barrel. Oil prices fell slightly on Wednesday as U.S. business activity slowed as concerns about the conflict in the Middle East eased, but the decline in U.S. crude oil stocks contained the decline in oil prices.

Brent crude futures fell 40 U.S. dollars, or 0.45 percent, to close at 88.02 U.S. dollars a barrel on Wednesday, giving up some of the gains recorded by Brent crude futures earlier this week, buoyed by a weaker dollar. U.S. crude oil futures fell 0.55 U.S. dollars, or 0.66 percent, to close at 82.81 dollars a barrel.

TimSnyder, an economist at MatadorEconomics, saidHaktuts50spinscoinmasterThe fundamentals of our deal seem to be a slight easing of the situation in the Middle East. "

The detente between Iran and Israel could reduce oil prices by another $5 to $10 a barrel in the coming months, Goldman Sachs analysts said in a report. These analysts estimate that the price of Brent crude is capped at $90 a barrel.

Us crude stocks fell 6.4 million barrels to 453.6 million barrels in the week ended April 19, while the survey showed analysts expected an increase of 825000 barrels, EIA said.

Us business activity fell to a four-month low in April. S & P Global said on Tuesday that its composite PMI output index, which tracks manufacturing and services, fell to 50.9 this month from 52.1 in March. The International Energy Agency (IEA) on Tuesday predicted strong growth in electric vehicle sales in 2024 and weakening oil demand. IEA added that the key to the future growth of electric vehicles depends on the affordability of car buyers and the charging infrastructure.

Electric vehicle sales are expected to reach 17 million this year and 14 million in 2023, IEA said. More than 20 per cent of global car sales will be electric vehicles, of which 10 million will be sold in big Asian countries.

The popularity of electric vehicles will mean that oil demand for road transport will peak around 2025, IEA said in the Global Electric vehicle Outlook report.

IEA said that if countries can implement established energy and climate policies, oil demand will be reduced by about 6 million barrels per day by 2030 and 11 million barrels per day by 2035, equivalent to more than 1/10 of current total oil demand.

Russia's economy ministry expects crude oil exports to reach 240t (about 4.82 million barrels) this year, up slightly from 238t last year. Exports are flat this year mainly due to the country's agreement to extend production cuts after OPEC+ plans to balance the oil market. The reduction in production will continue until the end of this year. Russia is likely to gradually increase its overseas shipments to 247 tons in 2025 and to 257 tons a year later.

Giovanni Staunovo, an analyst at UBS, said the heavy pumping of crude oil was the result of very high crude oil exports. But he said it could be an one-off, as this week's preliminary tanker tracking data showed a decline in exports.

However, investors still need to continue to pay attention to the relevant news of the geopolitical situation in the Middle East.

Israeli warplanes stormed the northern Gaza Strip for the second day in a row on Wednesday, breaking weeks of relative calm as Israel said it was pressing ahead with plans to launch a full-scale attack on Rafah in the south.

A government spokesman for Israeli Prime Minister Benjamin Netanyahu said Israel was "advancing" its plan to launch a ground operation in Rafah, but did not give a timetable.

Western countries, including the United States, Israel's closest ally, have implored Israel not to attack the city on the southern edge of Gaza, where more than half of Gaza's 2.3 million people live.

On the other side of the northern Gaza Strip, Beit Lahiya was heavily shelled on Wednesday for a second day, a day after the Israeli military ordered residents to leave four areas declared a "dangerous war zone."

According to the Gaza health authorities, the war has entered its seventh month, killing more than 34000 Palestinians. The Israeli offensive has razed much of the enclave and displaced most of the 2.3 million people, creating a humanitarian crisis.

This trading day will be released in the United States first-quarter GDP data and changes in the number of initial jobless claims, investors need to focus on.

At 08:33 Beijing time, US crude oil is now trading at 82.73 US dollars per barrel.