I. Key Focus Points
Crude Oil: On October 7, communication channels for U.S.-Iran negotiations remained open, and the possibility of further interest rate hikes by the Federal Reserve persisted, leading to a decline in international oil prices. NYMEX crude oil futures (November contract) closed at $88.28/bbl, down $1.16/bbl (-1.30% WoW); ICE Brent crude oil futures (December contract) closed at $100.20/bbl, down $0.38/bbl (-0.38% WoW). China INE crude oil futures were closed due to the National Day holiday.
Gasoline: During the holiday period, the Shandong refinery gasoline market was weak, with production-to-sales ratios around 70%.
Mixed C5: The mixed C5 market in Shandong declined.
Core Logic: Overnight crude oil prices fell, the gasoline market remained weak, and mixed C5 prices in Shandong 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 24 | Sep 30 | Change | % Change | Remarks |
|---|---|---|---|---|---|
| Shandong | 7450 | 7380 | -70 | -0.94% | |
| East China | 7400 | 7300 | -100 | -1.35% | |
| Notes: | |||||
| 1. The East China region excludes Shandong Province. | |||||
| 2. Prices are tax-inclusive cash pickup prices from warehouses, in CNY/ton. | |||||
| 3. Percentage change refers to week-over-week variation. |
Source: Chempricehub
IV. Market Outlook
The drop in overnight crude oil prices dampened sentiment among mid- and downstream market participants. During the holiday period, gasoline prices declined slightly, and overall trading activity was sluggish. Although bearish factors prevail in the market, post-holiday restocking demand is expected to provide some support. Chempricehub forecasts that mixed C5 prices will remain weak and consolidate within a narrow range.
Comments
0