I. Key Focus Points
Crude Oil: On September 21, reports indicated that the US and Iran might resume negotiations, easing market concerns and causing international crude oil prices to fall. NYMEX WTI October futures settled at $95.78/bbl, down $4.52/bbl (-4.51% WoW). ICE Brent November futures closed at $100.34/bbl, down $3.53/bbl (-3.40% WoW). China INE crude oil futures contract SC2611 fell by 23.6 to 730.8 CNY/bbl in the day session, and dropped another 16.5 to 714.3 CNY/bbl in the night session.
Gasoline: Yesterday, the Shandong refinery gasoline market traded sideways, with a production-sales ratio of 102%.
Mixed C5: Yesterday, the decline in the Shandong mixed C5 market slowed.
Core Logic: Overnight crude oil prices fell; the gasoline market traded sideways; the Shandong mixed C5 market declined.
II. Mixed C5 Price Trend Chart
| Figure 1: Domestic Mixed C5 Price Trend (CNY/ton) |
|---|
| Data Source: Longzhong Information |
III. Price Table
Unit: CNY/ton
| Region | Sep 20 | Sep 21 | Change | Change % | Remarks |
|---|---|---|---|---|---|
| Shandong | 7,480 | 7,400 | -80 | -1.07% | |
| East China | 7,800 | 7,750 | -50 | -0.64% | |
| Notes: | |||||
| 1. The East China region excludes Shandong Province. | |||||
| 2. Prices are warehouse cash-inclusive tax-inclusive prices, in CNY/ton. | |||||
| 3. Change rate refers to week-over-week change. |
Source: Chempricehub Information
IV. Market Outlook
Significant overnight declines in crude oil prices dampened traders' willingness to enter the market. Yesterday, refinery gasoline prices remained stable, with healthy trading activity. Mixed C5 prices declined, and shipments were sluggish. Given today's negative news on crude oil, Chempricehub Information expects the mixed C5 market to continue falling.
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