Crude oil is a futures with floating price. According to international practice, China adopts a "22+4%" adjustment mechanism. That is, referring to the change of international crude oil futures price in the past 1 month (22 trading days), if the price fluctuates above 4%, the domestic refined oil price will be raised or lowered accordingly. Generally speaking, the pricing is determined by the National Development and Reform Commission (NDRC), when the media will release the changes in the retail prices of gasoline and diesel.

The oil price is bearish: At the close of April 20, 2020, the futures price of light crude oil, which will be delivered in the New York Mercantile Exchange on 2 1 due in May, fell by 305.97% to close at -37.63 USD; The futures price of light crude oil for June delivery also fell sharply 18.37% to close at $20.43 per barrel. Meanwhile, London Brent crude oil futures for June delivery fell 2.5 1 USD to close at 25.57 USD per barrel, with a decrease of 8.94%.

Response time: July 20, 2020. Please refer to the latest business changes announced by Ping An Bank in official website.

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