Buy Crypto
Pay with
USD
USD
Buy & Sell
Hot
Supports Visa, Mastercard, SEPA & more
P2P
0 Fees
Flexible trading, zero fees
Gate Card
Use your crypto for payments worldwide
Markets
Trade
Basic
Advanced
Futures
Futures
Access hundreds of perpetual contracts
CFD
Gold
One platform for global traditional assets
Options
Hot
Trade European-style vanilla options
Unified Account
Maximize your capital efficiency
Demo Trading
Introduction to Futures Trading
Learn the basics of futures trading
Futures Events
Join events to earn rewards
Demo Trading
Use virtual funds to practice risk-free trading
Stocks
CFD
Stock CFD Derivatives
US Stocks
Access real US stocks and ETFs
HK Stocks
Trade quality Hong Kong-listed stocks
Korean Stocks
SK Hynix
Real Korean stocks and top assets
Stock Futures
High leverage, 24/7 trading
Tokenized Stocks
Backed by real stock assets
IPO Access
Unlock full access to global stock IPOs
GUSD
3.8%
Mint GUSD for Treasury RWA yields
Stocks Activities
Trade Popular Stocks and Unlock Generous Airdrops
Earn
Launch
CandyDrop
tag
Collect candies to earn airdrops
Launchpool
Quick staking, earn potential new tokens
HODLer Airdrop
Hold GT and get massive airdrops for free
IPO Access
tag
Unlock full access to global stock IPOs
Alpha Points
Trade on-chain assets and earn airdrops
Futures Points
Earn futures points and claim airdrop rewards
Investment
Square
Square
Post, share, and explore crypto trends
Live
moments live
Live crypto market analysis
Chat
Chat with crypto traders
News
What is happening in crypto
flower_head
More
Promotions
AI
Others
TradFi（新）
JMKE IPO
Rewards

SC Crude Futures Gains Narrow to 5% on July 24 as Oil Rally Seen Emotion-Driven

GateNews
Commodities
According to Huatai Futures, on July 24, SC crude oil futures opened slightly lower with gains narrowing to 5%, while low-sulfur fuel oil (LU) and fuel oil rallies stayed below 2%. The recent spike has been primarily driven by geopolitical tensions, including the Strait of Hormuz closure, CPC terminal shutdown, and Houthi attacks on shipping in the Red Sea. However, the physical crude market remains restrained with limited panic buying, as Chinese imports remain weak and other nations' demand is mostly satisfied. The 80 million barrels of backlog cargo from previous disruptions also cushions the market. Huatai Futures noted a widening gap between paper and physical markets, indicating the current rally is emotion-driven rather than fundamentals-based.
View Source
Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

Related News

07-23 18:34
Shanghai Crude Oil Futures Rise 7.11% to 604 CNY/Barrel Overnight
07-23 15:04
Crude Oil, Styrene Futures Rise Over 3.2% Overnight; Hot-Rolled Coil Declines
07-23 11:41
High-Sulfur Fuel Oil Surges Over 3% on July 23 as Houthi Threats Disrupt Middle East Shipping
07-23 10:17
Tanker Insurance Premiums in Strait of Hormuz Surge to 7.5%-10% Amid Rising Attacks on July 23
07-23 04:41
CBOT Soybean Futures Rally 1.3% on July 23 Amid U.S. Heat, Crude Oil Support
In-Depth Analysis

Korean Treasury Futures Drop on Crude Oil Surge and FOMC Concerns

Lucas Bennett20h ago

Brent Crude Surges Past $100 on Houthi Tanker Attacks in Red Sea

Lucas Bennett22h ago

Houthi Red Sea Attack Drives Brent Crude to $95.9 Amid Blockade Threat

Lucas Bennett07-23 08:58
Comment
0/400
No comments