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SunSirs: The Market Price of Refined Oil Fell Last Week (10.14-10.18)

October 21 2019 14:37:27     SunSirs (Selena)
  1. Price Trend

According to the price monitoring of SunSirs, the price of gasoline and diesel fell last week. The price of domestic gasoline was 6,456 RMB/ ton, 3.34% lower than that of the previous week; the price of domestic diesel was 6,383 RMB/ ton, 0.90% lower than that of the previous week.

  1. Market Analysis

Product: the overall international crude oil price rose first and then fell last week, with large amplitude. Although the change rate of crude oil monitored by SunSirs has rebounded, the latest change rate of crude oil as of October 17 was - 4.52%, and the price of domestic refined oil was basically determined on October 21. This week, there is a strong wait-and-see mood among refined oil customers. The overall transaction atmosphere in the market was light, the overall price of refined oil fell, and the price of gasoline fell sharply.

Industry chain: last week, the international crude oil market was mixed with positive and negative news, which affected the crude oil price. The situation in the Middle East continued to fluctuate, and the attack on Iranian oil tankers led to a short-term increase in the price of oil. The UK is expected to successfully leave Europe, which will put the risk mood on hold. API crude oil inventory increased sharply. China US business negotiation continued. In short, the international crude oil market lacks clear direction. Last week, the international oil price rose first and then fell, with a wide range of shocks.

Market: Since October, the market demand of gasoline has been weak, the delivery situation is general, the gasoline inventory of some refineries is still rising, the sales pressure is large, and the gasoline price last week continued to decline. In terms of diesel, driven by the rise in crude oil at the beginning of last week, the market trading atmosphere was still active. In the later period, affected by the decline of crude oil, the enthusiasm of downstream operators to purchase was restrained to a certain extent, and the price of diesel also fell slightly, but the decline was far lower than that of gasoline. On the whole, the price of refined oil fell last week, showing the trend of strong diesel and weak steam.

  1. Market Forecast

Oil product analyst at SunSirs believes that as the weather gradually turns cold, the gasoline market has gradually entered a low consumption season. In terms of diesel, industrial and mining projects, infrastructure projects and logistics and transportation will continue to support the diesel demand. It is expected that the trend of strong diesel and weak steam in the refined oil market will continue.

 

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