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Refined oil market welcomes biggest increase in 2018

Refined oil market welcomes biggest increase in 2018

(Summary description)At the beginning of the current round of pricing of refined oil products, tensions in Syria eased, and bulls locked in profits

Refined oil market welcomes biggest increase in 2018

(Summary description)At the beginning of the current round of pricing of refined oil products, tensions in Syria eased, and bulls locked in profits

Information

  At the beginning of the current round of pricing of refined oil products, tensions in Syria eased, and bulls locked in profits. The latest monthly report released by the International Energy Agency (IEA) shows that global crude oil supply fell in March, inventory fell and investor confidence increased sharply. The overall support for international crude oil prices has continued to climb upwards. As of this Tuesday, the US WTI crude oil was reported at 68.64 US dollars / barrel, and the Brent crude oil was reported at 74.71 US dollars / barrel, which were about 1.57 US dollars / barrel (2.34%) and 2.69 higher than the initial increase of the cycle. USD / barrel (3.74%), the highest level since 2015.

 

  A new Iran nuclear sanctions agreement is expected to be introduced, triggering a sell-off in the oil market. The sharp decline in U.S. stocks has also dragged down oil prices. Crude oil prices have stopped rising and fell today. However, due to the previous high oil prices, the current round of oil price increases is expected to continue to widen. On the ninth working day, Zhongyu Information estimated that the rate of change of crude oil was 6.59%. The value of Zhongyu Crude Oil was US $ 71.758 / barrel increased 4.435 from the benchmark price. It is temporarily estimated that the zero limit of refined oil products will be raised by 250 yuan / ton at 24:00 on the 26th.

 

  According to statistics from Zhongyu Information, in 2018, China's refined oil market has experienced seven price adjustment cycles, which were four up, two down, and one stranded. This round will usher in the fifth increase during the year. After the implementation of this increase policy, After the ups and downs, the cumulative increase in gasoline and diesel will reach about 360 yuan / ton, equivalent to the national five 92 # gasoline raised by 0.28 yuan / liter, and a full tank of oil will cost about 14 yuan more than in mid-March.

 

  From the perspective of market demand, it is not the peak demand season, the end-market consumption is not good, and the market is under pressure. However, boosted by the good crude oil, the domestic gasoline and diesel prices have rebounded during the current pricing cycle, making the zero-zero spread gradually Narrowing, among which the performance of diesel is more obvious. According to the monitoring data of Zhongyu Information, the current zero markup of diesel batches is 950 yuan / ton, which is a reduction of 100 yuan / ton from the end of the previous cycle. Diesel prices have bottomed out since March, and the market is bullish. The gradual increase in temperature pushed the price to rise steadily, but due to shipping pressure, the actual transaction still maintained preferential policies.

 

From the perspective of market demand, it is not the peak demand season, the end-market consumption is not good, and the market is under pressure. However, boosted by the good crude oil, the domestic gasoline and diesel prices have rebounded during the current pricing cycle, making the zero-zero spread gradually Narrowing, among which the performance of diesel is more obvious. According to the monitoring data of Zhongyu Information, the current zero markup of diesel batches is 950 yuan / ton, which is a reduction of 100 yuan / ton from the end of the previous cycle. The gradual increase in temperature pushed the price to rise steadily, but due to shipping pressure, the actual transaction still maintained preferential policies.

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