Xylene Market Morning Update (September 16, 2026)

I. Key Points

1. Crude Oil: On September 15, heightened supply risks from Saudi Arabia and the ongoing stalemate in US-Iran relations drove international oil prices higher. The NYMEX WTI October futures contract rose by USD 4.44/bbl to USD 105.83/bbl, up 4.38% day-on-day; the ICE Brent November futures contract increased by USD 3.07/bbl to USD 108.75/bbl, up 2.90% day-on-day. China's INE crude oil futures (contract SC2611) rose by CNY 59.7 to CNY 836.2/bbl, with the night session gaining CNY 23.8 to reach CNY 860/bbl.

2. Xylene: Sinopec East China posted a xylene price of CNY 9,000/ton.

3. Gasoline: Yesterday, the production-sales ratio for gasoline at Shandong local refineries was 65%, down 53 percentage points day-on-day.

Core Logic: Crude oil futures edged slightly higher. Yesterday, Shandong local refinery production and sales were not balanced; factory auctions did not command premiums, though on-site purchasing sentiment remained decent. The Asian FOB market rose yesterday, while xylene prices traded weakly.

II. Price Table

III. Market Outlook

Crude oil futures closed sharply higher, providing psychological support to the market. Yesterday, gasoline production and sales were not balanced. Refinery xylene shipments were decent, and downstream customers actively entered the market to replenish stocks. However, weaker crude oil performance during the morning session capped gains. Domestic xylene prices are expected to open high and trend lower today.