International oil prices rose early in Asian trading on Monday. The rise in major global stock markets has enhanced the atmosphere in oil futures markets, with crude oil futures in Europe and the United States closing up about 2%. On Monday (Aug. 19), West Texas Light Oil futures settled at $56.21 a barrel in September 2019 on the New York Commodity Futures Exchange, up $1.34 a barrel, or 2.4%, from the previous trading day, with a trading range of $54.84-56.41 a barrel; Brent Crude Oil futures settled at $59.74 a barrel in October 2019 on the London Intercontinental Exchange, up from the previous trading day. The daily gain was $1.10 per barrel, or 1.9 per cent, with a trading range of $58.64-59.92 per barrel.

According to Xinhua News Agency on August 17, Yemeni Hussein armed forces through its control of Masila TV station announced that 10 drones attacked Saudi National Petroleum Corporation (SAPC) oil refining facilities in the Siba oilfield. Xinhua quoted Saudi Arabia's Minister of Energy, Industry and Mineral Resources, Khalid Falkh, as saying on the 17th that a natural gas facility in Siba Oilfield in eastern Saudi Arabia was attacked by several UAVs that morning, but the losses were small and would not affect Saudi oil production and export. Falkh accused the attack of "terrorist acts of sabotage", targeting not only Saudi oil and gas facilities, but also "the security of the world's energy supply".

The armed conflict between Saudi Arabia and Yemen's Hussein has a long history. As early as May 14 this year, Hossein armed forces confirmed through the official media Masila TV that Hossein armed forces dispatched seven unmanned aerial vehicles to attack "key oil facilities in Saudi Arabia". Saudi Arabia's oil pipeline pumping station was attacked by Hossein armed forces, and then Saudi Arabia and Hossein organized a military confrontation.

Earlier in late July 2018, it was reported that Saudi Arabia suspended oil tankers from crossing the Mand Strait because of attacks by Yemeni Hussein Group.

Saudi Arabia is the world's largest oil exporter, exporting nearly 7 million barrels of crude oil a day and producing nearly 10 million barrels of crude oil a day. The disruption of Saudi Arabia's crude oil production and export will have an impact on global oil market supply.

Many economies around the world will take action to curb the expected warming of slowing growth and push stock markets higher. Monday's rise in the world's major stock markets boosted the mood in the oil market. Firstly, the three major Chinese stock indexes rose 2.1% against the Shanghai stock index, and the two stock markets had more than 100 shares. Major European stock markets subsequently rose. Finally, the U.S. stock market rose for the third consecutive trading day.

The market is waiting to see if there is any sign of easing the Sino-US trade dispute. U.S. officials said over the weekend that the White House was preparing for a new round of trade talks with Beijing. The Wall Street Journal reports that President Trump tweeted that the United States and China are getting along well and in dialogue.

Speculators continued to increase net bulls in U.S. crude oil futures and decrease net bulls in Brent crude oil futures. The net long position held by speculators in light crude oil futures on the New York Mercantile Exchange increased by 1.7%. According to the latest statistics from the Commodity Futures Commission of the United States, as of the week ending August 13, the holdings of crude oil futures on the New York Mercantile Exchange were 2059 135, down by 11075. Large speculators held a net long of 382 144 hands in New York Mercantile Exchange crude oil futures, an increase of 6503 hands over the previous week. Among them, the number of long hands increased by 6116, while the number of short hands decreased by 387.

The net long of the management fund in the futures and options held by the US light and low-sulfur crude oil on the New York Mercantile Exchange increased by 13.16%, while the net long of the US light and low-sulfur crude oil in the European market on the Intercontinental Exchange decreased by 87.7%. According to the new classification, in the week ending August 13, the net long holdings of the management fund in crude oil futures and options on the New York Mercantile Exchange increased from 177189 in the previous week to 20499; the long holdings increased by 8523; the short holdings decreased by 14787. The net short positions held by managed funds in U.S. light and low sulphur crude futures and options on the London Intercontinental Exchange decreased from 7607 in the previous week to 936; the long positions decreased by 5260; the short positions decreased by 11 931.

The net long position of management funds in Brent crude oil futures and options decreased by 13.94%. According to data analysis provided by the ICE, Brent crude oil futures and options held 29,59581 hands in the week ended August 13, an increase of 79,819 hands over the previous week, while management funds held a net long position of 226767 hands in Brent crude oil futures and options, a decrease of 36,733 hands over the previous week. Among them, the number of long holders decreased by 26873 and the number of short holders increased by 9860.

The net long position of management funds in Brent crude oil futures decreased by 10.82%. According to data analysis provided by the Intercontinental Exchange, Brent crude oil futures held 230,2912 hands in the week ending August 13, an increase of 36,361 hands over the previous week; management funds held a net long position of 228,523 hands in Brent crude oil futures, a decrease of 27,727 hands over the previous week. Among them, the number of long holders decreased by 25007 and the number of short holders increased by 2720.