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Oil Price Adjustment: 1-Day Countdown, Expected Increase of 120 Yuan/Ton

Today marks the 9th working day of the new round of oil price adjustments, with an expected increase of 120 yuan/ton, which translates to an increase of 0.09 yuan/liter to 0.11 yuan/liter. Compared to yesterday, the estimated increase in oil prices continues to rise by 20 yuan/ton, far exceeding the threshold for an increase, indicating that oil prices are set to rise!

Please note, oil prices are about to increase.

Please be aware that although international oil prices closed lower this morning, they did not offset the gains made during the National Day holiday, and domestic oil prices are expected to continue to rise. Tomorrow is the day for oil price adjustments, and it is almost certain that this round of oil price increases will be confirmed. Car owners with travel needs can fill up their tanks in advance.

In terms of international oil prices, they plummeted yesterday, with US crude oil closing down by 5.19% at $73.29 per barrel, and Brent crude oil closing down by 4.55% at $77.44 per barrel. Today's oil prices show a downward trend, with US crude oil temporarily reported at $73.70 per barrel as of press time, a decrease of 0.26%.

The decline in international oil prices yesterday was mainly due to the possibility of a ceasefire in the Middle East, coupled with market concerns about the demand outlook, which suppressed the rise in oil prices.

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According to foreign media reports, Hezbollah's deputy leader Naim Qassem stated on Tuesday that Hezbollah supports efforts to achieve a ceasefire in Lebanon, and for the first time did not mention stopping the conflict in Gaza as a precondition.

The US API crude oil inventory for the week ending October 4 increased by 10.958 million barrels, compared to an expected increase of 1.925 million barrels and a previous decrease of 1.458 million barrels.

Tamas Varga from the oil brokerage PVM said, "The current rise in oil prices is based solely on expectations rather than actual supply disruptions, and such a rise cannot be sustained."

In summary, the market is watching whether Israel will attack Iran's oil infrastructure and whether a ceasefire will emerge between Israel and Lebanon. There will also be a US EIA crude oil inventory report this evening, which may affect oil prices.


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