Seeing the international oil prices fell below $ 100 a barrel, then fell to $ 94, and then to the current 93 U.S. dollars, the domestic price of oil has remained intact. "I continue to put international oil prices, as to domestic oil prices, is estimated to be adjusted again next month." Guangdong Oil & Gas Association Yao Daming oil minister, told reporters yesterday on the Yangcheng Evening News.
International oil prices rose during the year taking
June 17, Goldman Sachs in its latest report in the second quarter U.S. gross domestic product (GDP) growth is expected from 3% to 2%. This bearish signal lead to the date of the international oil prices fell below $ 92 a barrel, almost full circle back to the end of 2010 when the price level.
Goldman Sachs report came out, the day was $ 99.30 a barrel in New York Mercantile Exchange, August crude futures contract prices dropped significantly to $ 93.01 a barrel, which fell to a low of $ 91.84 per barrel from last year's final trading day of each closing price of $ 91.38 a barrel only minutes.
As the dollar rose and demand for U.S. concerns about negative economic data raised the international price of oil has seen a sharp e-commerce platform of loose bulk products Treasure Island show, WTI (West Texas light crude oil) the average price in May $ 101.360 per barrel, but last week's average price has dropped to $ 95.890, on June 17 fell to $ 93.01 a barrel, a drop of up to 2.04%, a record four months since the lowest price; 20 is only fine-tuning to $ 93.260 a barrel.
"Because of the debt crisis and concerns about slowing U.S. economic growth continued to pressure oil prices, on June 17 of $ 93.01 per barrel, has fallen below $ 95 support level, the bad news is bound to pressure the industry mentality." Treasure Island He Jieying senior analyst said.
Markdowns at the end or are
"Although WTI has dropped, but our refined oil pricing mechanism is closely related to the rate of change of the three, remained at 0% the recent near significant breakthrough in a short time is difficult, according to Treasure Island data, this month to to see whether it is raised or lowered the price of the conditions can not be reached. "He Jieying analysis pointed out," Thus, lack of news of price adjustment, the impact of speculative market demand. "
Yao Daming, said: "When international oil prices rising, the upward price adjustment period did not increase, leading to the present not the place down when the indicators present, the direction is not clear, and the possibility of rise in the fall, the industry continue to wait and see, are not enthusiastic about buying and selling lead to an overall thin trading. "
June is the oil market this season, but most of the time in the past, the market has shown "busy season" of the situation. "From the fundamentals of demand, the southeast coastal areas are in the fishing moratorium, vessels operating to reduce the demand decreased, while the northern regions 'three summer' peak oil agriculture has gradually declined, while the eastern, central and other areas affected by heavy rain weather , logistics, transportation, engineering, oil overall decline. "He Jieying that this view, the fundamental demand was flat.
Reporters also learned that the supply side, this month's oil refinery in the centralized maintenance, northwest, northeast part of the refinery maintenance, processing capacity on the chain fell 11 percent, south to reduce the resource chain. And Sinopec this month because of large foreign mining resource gaps, concerns the late supply of resources, high prices tightening resources. And due to lack of demand side, supply side did not show the current tensions.
Yao Daming pointed out that under the current tracking movement of the Index, this month cut oil prices in international oil prices still fell by 10 percent, less likely to price adjustment this month. "I expect, as the market anticipated lower increase, wholesale prices will oscillate down. Near the end of June, under the pressure of sales may be a new round of markdowns." (Xiao-Li Li)