The price of international crude oil fell. On September 4, the price adjustment of domestic oil products ran aground, the price of gasoline market dropped slightly, the procurement of MTBE market was delayed, and the market price dropped slightly. The price of MTBE on September 11 was 3,683 RMB/ ton, down 2.39% from the price at the beginning of the week, according to SunSirs.
In most areas of China, the rainfall is reduced, the residents' driving trips are increasing, and the gasoline consumption performance is good. However, the sharp decline of international crude oil price has lowered the focus of domestic gasoline price, which has severely dampened the enthusiasm of oil market operators. The procurement plan of downstream MTBE and other intermediate materials has been delayed, and MTBE has reduced the price to promote the shipment. The overall operation of domestic MTBE plant is relatively stable, and the output is basically the same as last week.
According to MTBE product analysts of energy branch of SunSIrs, crude oil prices will continue to fall under pressure in the short and medium term. However, with the arrival of the traditional peak season, gasoline demand will increase, and demand for intermediate materials such as MTBE is still supported. It is expected China domestic MTBE market prices will rise steadily.
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