Home > News > Soaring crude oil is good for oil market and weak demand hinders Shandong refining

Soaring crude oil is good for oil market and weak demand hinders Shandong refining

wallpapers News 2020-09-24

In mid July, the international crude oil futures price continued to rise above 106 US dollars / barrel.

According to the monitoring data of treasure isl, the change rate of reference crude oil (WTI, Brent, Brent DTD, Dubai ESPO) was 4.

78% as of the fourth working day on July 11.

Recently, the international crude oil futures continued to rise, supporting the domestic refined oil market, the gasoline diesel prices of main units in some regions were intended to push up.

At the same time, some refineries in Shong began to push up, but the range was limited the deal was preferential in secret.

According to the monitoring data of Jinyin Isl, as of July 11, the main trading volume of national second 93 gasoline was 7450-7650 yuan / ton, that of 0 diesel oil was 7100-7200 yuan / ton.

In terms of actual shipment: boosted by the frequent increase of external oil price the positive expansion of change rate, the mentality of oil market operators in the region is getting better, while the number of local refining companies entering the ranks of rising is increasing.

However, recently, due to the strict management of tax receipts in Dongying, Binzhou, Zibo other places, traders have left the market to avoid risks.

After losing the intermediate link, the price of oil products purchased directly from refineries is slightly higher, which leads to the increase of operating costs.

Therefore, under the weak terminal consumption, the purchasing enthusiasm of downstream businesses increased slowly.

It is precisely in this way that the overall shipping performance has not been greatly improved, the resources in the region are still sufficient.

Future outlook: in the short term, the international crude oil futures price is soaring, the domestic oil product market with weak terminal dem has a limited boost, but the rate of change is exping positively, which makes the expectation of refined oil product increase gradually, the price adjustment range is expected to be greater than before.

Supported by this favorable situation, the mentality of oil market operators in the region is temporarily stable, while most of the middle lower stream businesses maintain rational operation.

To sum up, it is expected that there is still room for the price of gasoline diesel oil to rise in the short term in Shong.


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TRUNNANO (aka. Luoyang Tongrun Nano Technology Co. Ltd.) is a trusted global chemical material supplier & manufacturer with over 12 years' experience in providing super high-quality chemicals and Nanomaterials. The nitride powder produced by our company has high purity, fine particle size and impurity content. Please contact us if necessary.
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