Gasoline Market Analysis on June 4

Gasoline Market Analysis on June 4

International crude oil closes

Gasoline price index

On June 4, China's 92 #gasoline price index was 9013.41, down 11.92, or 0.13%; China's 95 #gasoline price index was 9309.83, down 13.78, or 0.15%. Both the 92 #gasoline index and the 95 #gasoline index were lowered, and the price difference between the 92 #gasoline index and the 95 #gasoline index was 296.41.

Gasoline Market Analysis:

Today, China's gasoline market is weak, with the high-end price of 95 #in South China being lowered by 50 yuan/ton; the low-end price of Central China and Northwest China being lowered by 50 yuan/ton; the high-end price of Northeast China being lowered by 100 yuan/ton; the low-end price of 92 #in East China and Southwest China is lowered by 20-30 yuan/ton; gasoline prices in other regions are stable. The ex-factory price of local refining is stable and weak, with 92 #in Shandong and Northwest China being lowered by 25-50 yuan/ton; the high-end price of 95 #in Northwest China being lowered by 50 yuan/ton; and gasoline prices in other regions being stable. At present, transactions in China's gasoline market are light, international crude oil has closed down continuously, cost support is insufficient, middle and lower reaches are generally enthusiastic, and refinery shipments are poor.

market outlook

The results of the OPEC+ meeting have exerted short-term negative pressure on international oil prices, but still provide support in the medium and long term. Among them, the description that production cuts may be phased out starting in October was fierce in the market, causing crude oil prices to fall yesterday. Hamas has said it has a positive stance on Israel's proposed new personnel exchange and the content of a draft ceasefire agreement in Gaza, but has not responded positively. International crude oil prices closed down widely yesterday. The news was negative, which increased the wait-and-see atmosphere in the market and suppressed the mentality of middle and lower reaches. In China's gasoline market, there is less pressure on the main tasks at the beginning of the month, and there is more confidence in raising prices. In addition, as the Dragon Boat Festival holiday is approaching, some pre-holiday stocking starts one after another. On the whole, the negative and positive trends are intertwined, pulling oil prices. It is expected that China's gasoline market will remain mainly stable in the short term and fluctuate within a narrow range.