Weak fundamentals determine the lower limit of oil prices, while the pulse-like increases triggered by geopolitics and sanctions determine the upper limit. If geopolitical factors

In 2025, international crude oil surged at the beginning of the year and then fluctuated downwards throughout the year. The central market has significantly shifted

Macroeconomics 1. [Foreign Exchange Reserves] Central Bank: As of the end of December 2025, my country's foreign exchange reserves amounted to US$3,357.9 billion, an increase of

On January 7th, the MTBE external market closed down: the closing price of the Asian MTBE market was $12.49/ton lower than the previous trading day,

Coal was supposed to be fading quietly into the background. Instead it is still doing the heavy lifting, and 2025 proved it again. Global coal demand

On January 7th, Business Society reported that on January 6th, the CFR price of naphtha in Japan was 534.25 US dollars per ton, and the

On January 7th, the commodity price index BPI was 918 points, up 10 points from yesterday, down 31.65% from the highest point of 1,343 points

US Energy Secretary Chris Wright stated on July 7 that the United States plans to maintain control over Venezuela's oil industry, including "indefinitely" regulating the

On January 5th, PL001-H32 well of the Deng'er Gas Reservoir in the Penglai Gas Field of China National Petroleum Corporation's Southwest Oil and Gas Field

Real-time LNG import vessel arrival data released by China's E-Gas System indicates that during the week of December 29, 2025 to January 4, 2026, China

Macroeconomics 1. [Monetary Policy] The central bank: In 2026, we will continue to implement a moderately loose monetary policy, leveraging the integrated effects of incremental and

On January 6th, the closing volatility of the MTBE external market: The closing price of the Asian MTBE market increased by $9.41/ton compared to the

On Tuesday, January 6th, data released by the American Petroleum Institute (API) showed that U.S. crude oil inventories decreased last week, while refined product inventories

On January 6th, the commodity price index BPI was 908 points, up 7 points from yesterday, down 32.39% from the highest point of 1,343 points

The domestic refined oil price adjustment window for this round opened at 24:00 on January 6th. The retail price of refined oil was not adjusted

On January 6th, Shangneng Petrochemical's hydrogenated naphtha was quoted at 6,830 RMB/ton, an increase of 30 RMB/ton compared to the previous price adjustment day, and

I. December 2025 LNG Market: Supply-Demand Imbalance Drives Prices Downward In December 2025, domestic LNG prices struggled to stabilize, primarily due to severe supply-demand imbalance. While

On January 6th, MTBE production companies in Shandong Province experienced a decline in their quotations: Dongming Qianhai Chemical's MTBE quotation was lowered by 30 RMB/ton

On Friday, the international crude oil market closed slightly lower. On January 5th, the price of refined oil in the northwest region decreased. The overall

On January 5th, the commodity price index BPI was 901 points, up 2 points from yesterday, down 32.91% from the highest point of 1,343 points