On Thursday, the closing price of the international crude oil market declined. On October 10th, the price of refined oil in Northeast China decreased. The overall price of 92# gasoline was between 7,500-7,600 RMB/ton, the price range of 95# gasoline was between 7,600-7,700 RMB/ton, and the price range of diesel was between 6,500-6,600 RMB/ton.

According to SunSirs analysis, the decline in international crude oil prices indicates relatively sufficient global supply or weakened demand, leading to pressure on spot and futures markets. In the short term, it may suppress investment sentiment.

The decline in crude oil prices has reduced production costs, coupled with weak demand in the Northeast region, resulting in a drop in the spot price of 92# gasoline to 7500-7600 RMB/ton. As a related commodity of refined oil futures, futures prices will also follow the downward trend, but the decline will be moderate.

Affected by the decrease in crude oil costs, the spot price range of 95# gasoline has fallen to 7,600-7,700 RMB/ton, reflecting the risk of regional oversupply. The futures market (such as RBOB gasoline) may adjust synchronously, but there are no unexpected factors.

The diesel price has dropped to 6,500-6,600 RMB/ton, mainly due to the price reduction of crude oil raw materials and weak industrial demand. Spot and futures prices (such as diesel futures) are susceptible to cost drag, but the decline is a regular fluctuation.

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