Original title: International crude oil rises to a two-year high, domestic oil prices will rise for the eighth time this year
“Economic Information Daily” reporters learned from a number of social monitoring agencies that international crude oil has recently been at a high and narrow upward trend. The two major crude oil futures indicators climbed to highs in the past two years, and Brent broke through the $70/barrel mark for the first time. Under this, the domestic oil price increase window will open at 24:00 on June 11, which will be the eighth increase this year.
The recent strong fundamentals of crude oil have regained the confidence of the bulls. International crude oil prices have been rising for two consecutive weeks. On June 1, the main contract price of Brent crude oil futures stood above the $70 per barrel mark for the first time since the end of May 2019. Above, afterwards, it showed a volatile upward trend.
Xu Lei, a refined oil analyst at Zhuo Chuang Information, believes that the market is expected to improve global oil demand under the influence of accelerated vaccination, and the OPEC+ alliance continues to insist on the gradual restoration of supply from June to July, which offsets the consensus reached in the US-Iran nuclear agreement negotiations. The risks that may lead to increased supply and the uncertainty of the epidemic in some other regions have impacted oil market demand.
According to the calculation of Zhuochuang Information Data Monitoring Model, as of the close of June 7, the domestic reference crude oil change rate was 3.31% on the seventh working day, corresponding to an increase of 140 yuan/ton for gasoline and diesel, and the price adjustment window was 24:00 on June 11. The comprehensive change rate of crude oil estimated by Longzhong Information is 3.68%, corresponding to an increase of 125 yuan/ton.
Li Yan, an oil analyst at Longzhong Information, said that the upward adjustment is already a high probability event. After this round of price adjustments, the price adjustment in 2021 will become “eight ups, one down, and two strandeds.” From the perspective of wholesale, the continued rise of international crude oil has boosted the industry’s mentality. The refinery took the opportunity to push up oil prices. However, the mid- and downstream merchants purchased more on-demand, and the market atmosphere was good. In terms of retail, the gasoline prices of 92# and 95# at Sinopec gas stations in Shandong are currently 6.74 yuan/liter and 7.23 yuan/liter respectively. The current round of retail price increase is about 0.12 yuan/liter. Private car owners can The fuel tank was filled up before Saturday.
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