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SunSirs: Energy, Market Price of Refined Oil Rose First and Then Fell last Week (January 6-11)

January 13 2020 17:23:50     SunSirs (Selena)

1  Price Trend

According to the price monitoring of SunSirs, the price of gasoline and diesel first rose and then fell last week. The price of domestic gasoline was 6,534 RMB/ ton, 0.66% lower than that of the previous week; the price of domestic diesel was 6,224 RMB/ ton, 0.24% lower than that of the previous week.

2  Analysis of Influencing Factors

Product: last week, international crude oil continued to fall. At present, it is estimated that the price adjustment of domestic refined oil on January 14 will be increased by 60 RMB/ ton, but the price adjustment of refined oil is likely to run aground. Oil product market is not bullish.

Industry chain: last week, the situation in Iran continued to escalate. Traders worried about the interruption of crude oil supply and the rapid rise of international oil prices. Then Trump's speech on the US Iran issue cooled the situation in the Middle East. At the same time, the U.S. crude oil inventory increased unexpectedly and the international oil price fell. And last week, the international oil price fell significantly, WTI crude oil price fell 6.22%.

Market aspect: geopolitical concerns caused by the situation in Iran made the international oil price soar rapidly, and the domestic gasoline and diesel market follow the rise. In addition, due to the market stock demand in the early spring festival, the domestic gasoline and diesel market has strong bullish sentiment. But Trump's speech on the US Iraq issue on January 8 cooled the situation in the Middle East. The domestic oil product market immediately fell. Last week, the domestic oil product market rose first and then fell. However, the oil product market was supported by the market demand for goods preparation, and the market price fell slightly.

3  Market Forecast

The oil product analyst of SunSirs believes that although the US Iraq conflict has temporarily released the easing signal, the contradiction still exists, and there is certain uncertainty in the direction of the situation. In the short term, crude oil will continue to fluctuate in a wide range, and the oil product market is supported by the market demand for the Spring Festival holiday. The market price of refined oil is expected to be stable and positive this week.

 

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