Gasoline Market Analysis on November 8

Gasoline Market Analysis on November 8

International crude oil closes

Gasoline price index

On November 8, China's 92 #gasoline price index was 7807.69, up 0.20; China's 95 #gasoline price index was 8126.90, up 0.02. Both the 92 #gasoline index and the 95 #gasoline index were raised, and the price difference between the 92 #gasoline index and the 95 #gasoline index was 319.21.

Gasoline Market Analysis:

The trading atmosphere in China's gasoline market is moderate today. The wholesale prices of main units have generally transitioned smoothly. The ex-factory prices of local refineries are generally stable and strong. Among them, Shandong and East China have slightly increased, with the range concentrated at 15-100 yuan/ton; Gasoline prices in other regions are stable.Crude oil rose overnight on the cost side, OPEC+ officially decided to postpone the production increase plan originally scheduled for December, the U.S. presidential election voted, and Trump successfully elected. Overall, the support for the China gasoline market is still good. Terminal demand performance is average, with most middle and lower reaches purchasing mainly on demand, and refinery shipments are acceptable.

market outlook

In terms of international crude oil, Trump won the election and the hurricane had an impact on oil production in the Gulf of Mexico.In terms of gasoline in China, downstream procurement enthusiasm remains dominated by demand and wait-and-see. Next week enters the first half of the month, and the performance and tasks of each main unit vary in completion, coupled with the new round of refined oil retail price limits to fulfill expectations of lowering. Overall, it is expected that there will be a narrow range of room for downward adjustment in the short term.