Crude oil prices fell sharply at the beginning. How will the market outlook work?

Gold Ten Futures October 28th news, Monday, WTI crude oil futures opened sharply fell, down more than 5%; as of now, WTI crude oil futures fell more than 4%. In the past week, the Middle East geopolitical risks escalated, the global crude oil supply and demand relationship continued to change, crude oil futures prices as a whole showed a disorderly state. < b > China Merchants Futures analysis pointed out , traders have long expected Israel's attack on Iran, so oil prices include a certain risk premium, because of fears of damage to Iran's oil facilities. However, Israel's attack only targeted military facilities, did not affect Iran's oil supply, and Iran's response to the attack was relatively lackluster, and the probability of a strong counterattack is extremely low. After Monday's opening, oil prices are expected to fall by 3 to 5 US dollars per barrel, due to the risk premium. Zhonghui Futures said that from the perspective of supply and demand fundamentals alone, oil prices are relatively bearish, but geopolitical conflicts in the Middle East, especially the relationship between Israel and Iran, have gradually become tense, which has boosted oil prices to a certain extent. In the later stage, we still need to pay attention to the further evolution of the Middle East pattern.