Zhongxin Finance, June 28 (Ge Cheng) After a recent wave of "four consecutive rises", is the oil price finally going to drop?
At 24:00 on June 28th, a new round of refined oil price adjustment window will be opened. The agency predicts that the price of refined oil products in this round will show a "significant drop", ushering in the second reduction in the year.
On June 26, the price at a gas station in Xicheng District, Beijing showed that No. 95 gasoline had reached 9.93 yuan per liter.
Photo by Ge Cheng of China-Singapore Finance
As of 14:00 on June 27, Beijing time, Brent crude oil futures for August were quoted at $113.23 per barrel.
During this round of pricing cycle, international crude oil futures showed a downward trend of high volatility.
Recently, investors are still worried that the Fed's interest rate hike may push the U.S. economy into recession, thereby curbing demand for fuel, said Luo Meijuan, an oil analyst at Jinlianchuang.
In addition, the U.S. government's attempt to combat high oil prices by cutting taxes and increasing production has also increased the downward pressure on crude oil futures, so international crude oil has been trending downward at a high level. However, some oil-producing countries have difficulty increasing production, and OPEC's production recovery has always been slower than the planned target. Investment Concerns about tight oil resources remain undiminished.
Affected by the fluctuating and falling international crude oil prices, according to agency estimates, as of the ninth working day on June 27, the average price of crude oil varieties referenced by domestic oil prices was 113.11 US dollars per barrel, with a rate of change of -5.49%. Domestic gasoline and diesel are expected to be lowered. The range is 330 yuan per ton, equivalent to 0.26 yuan per liter of No. 92 gasoline, and 0.28 yuan per liter of diesel.
After the current round of oil price adjustment, No. 95 gasoline in some parts of the country is expected to leave the "10 yuan era" temporarily, and the price per liter will drop below 10 yuan.
For consumers, this round of refined oil price adjustments may be regarded as short-term "good news".
Since 2022, domestic refined oil products have shown a pattern of "ten ups and one down" during the year, with a cumulative increase of 2,720 yuan per ton for gasoline and 2,620 yuan per ton for diesel.
Equivalent to gasoline rose about 2.14 yuan per liter, diesel rose about 2.24 yuan per liter.
For an ordinary private car with a fuel tank capacity of 50L, it will cost about 107 yuan more to fill up a tank of fuel than at the end of last year.
Luo Meijuan said that with the arrival of hot weather, the frequency of use of air conditioners for vehicles has increased, and the consumption of gasoline has increased, and demand is still supported.
With the advent of the summer vacation, the travel radius of residents has increased, and the terminal consumption is still supported.
"There is no obvious trend signal in the crude oil market in the short term, so maintaining wide fluctuations is still the mainstream trend." Jinlianchuang crude oil analyst Xi Jiarui believes that the impact of market news on oil prices is temporary, and the final trend of crude oil prices , will still return to the impact of fundamentals.
All parties in the market still have different opinions on the future of crude oil. The bulls believe that oil prices will hit a high of $150/barrel, while the bears believe that crude oil has turned into a bearish cycle.
(Finish)
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