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Petroleum products: international crude oil declines again as market trading continuously cools down(20150316)

Writer:Xie MengmengSource:Zhuo and information Number of visits: Date:2015-3-16 17:51

   Crude oil:despite the decrease in the number of the American oil drilling platforms, in the next few months there would be surplus in the supply of oil market, said the International Energy Agency (IEA) in a report. In response to this, the European and American crude oil futures fell. Brent crude oil futures fell below US$55 a barrel, while the U.S. benchmark crude oil futures fell below US$45. At the same time, the increase of the exchange rate of U.S. dollar brings down the oil price. The speculation over the possible agreement between Iran and the West on the nuclear issue also drags the crude oil futures market. On Friday (March 13) in the New York Mercantile Exchange, the settlement price of the futures of West Texas light oil settled at US$44.84 a barrel in April 2015, down by US$2.21 over the previous trading day, with the trading range between US$44.69 and US$47.28; the settlement price of the Brent crude oil futures settled at $54.67 a barrel in April 2015 in the Intercontinental Exchange (ICE), down by US$2.41 over the previous trading day, with the trading range between US$54.51 and US$57.40. The settlement price of the Brent crude oil futures increases by US$9.83 a barrel in April compared with that of West Texas over the same period, US$0.2 less than the figure on Thursday.

  

  Change rate of crude oil: by the end of the closing on March 13, on the second workday, the change rate of crude oil reached -5.07%. The corresponding petrol and diesel goes down by 195 yuan/ton. The price adjustment will be started on 24:00 of March 26.

  

  Innovative viewpoint:the stranded price adjustment of this round impacts the domestic wholesale market for petrol and diesel, and, together with the downward shock of the international crude oil, the confidence in the afternoon session is insufficient, with people’s wait-and-see mood becoming more and more severe. In terms of demand, at present, the rate of the operation of the oil-consuming units with petrol and diesel oil terminal units is not high. The overall demand is difficult to be improved markedly. It is estimated that the wholesale prices of Today’s domestic petrol and diesel will be stabilized. Some unit will lower the transaction prices in order to promote sales, but the overall sales will remain in recession.

TypeInfo: Industry Dynamics

Keywords for the information:国际原油 

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