International crude oil futures closed higher on Friday. On January 12, refined oil product prices at independent refineries in Northeast China declined. The overall price range for 92# gasoline was 7,000–7,100 RMB/ton, while 95# gasoline traded between 7,100–7,200 RMB/ton. Diesel prices were quoted in the range of 5,900–6,000 RMB/ton.
PriceSeek Analysis
Diesel, Bull-Bear Score: -1
The article notes that diesel prices in Northeast China were quoted in the range of 5,900–6,000 RMB/ton, indicating a decline. This suggests that despite the rise in international crude oil prices, weak downstream demand or oversupply from refineries is putting pressure on spot prices. This constitutes a generally bearish influence, with a score of -1.
Gasoline, Bull-Bear Score: -1
The article shows that 92# gasoline prices were in the range of 7,000–7,100 RMB/ton and 95# gasoline in the range of 7,100–7,200 RMB/ton, reflecting an overall decline in prices. This indicates insufficient demand for refined oil products or increased inventory, exerting downward pressure on gasoline spot prices. Considering the rise in crude oil prices alongside weaker refined product prices, the score is -1, representing a generally bearish outlook.
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