Current location - Trademark Inquiry Complete Network - Futures platform - Does the skyrocketing oil futures have anything to do with petrochemical warehouses?
Does the skyrocketing oil futures have anything to do with petrochemical warehouses?
It is indirectly related to the petrochemical warehouse and is mainly determined by the procurement cost.

International crude oil futures reflect the current spot price of crude oil, and Sinopec relies heavily on imported crude oil for refined oil processing, so the higher the price of crude oil futures, the higher the purchasing cost of Sinopec.

Crude oil futures, referred to as OilFut, are the most important oil futures. OilFut is the abbreviation of "OILFutures". There are four important crude oil futures contracts in the world: the New York Mercantile Exchange light and low sulfur crude oil, namely "West Texas Intermediate" futures contract; High sulfur crude oil futures contract of Dubai Mercantile Exchange; London International Petroleum Exchange (ICE) Brent crude oil futures contract; Singapore Exchange (SGX) Dubai sour crude oil futures contract.