International oil prices are still rising sharply, and domestic oil prices may meet "six consecutive rises". Oil prices have been rising since the new crown outbreak. After the outbreak of the Russian-Ukrainian conflict, oil prices have continued to rise, international oil prices are still rising sharply, and domestic oil prices may face "six consecutive rises."
International oil prices are still soaring, and domestic oil prices may meet the "six consecutive rises" of 1. Stimulated by the news that US President Biden announced the ban on importing Russian oil, international oil prices rose again. The main contract of US Oil rose by 4.5% to 124.77 USD/barrel; The main oil distribution contract rose by 4.86% to 129.2 USD/barrel.
Source: wind
China oil price will face "six consecutive rises" or enter the "9 era"
Affected by international oil prices, China crude oil futures also soared. As of noon on March 8, the crude oil boost reached 790.9, with an increase of 1 1.03%.
According to the current oil price management method, domestic gasoline and diesel prices include domestic transportation costs, refining and processing costs, reasonable profits, circulation costs, as well as value-added tax, urban construction education surcharge and consumption tax, in addition to crude oil procurement costs.
With the increase of domestic crude oil cost, gasoline and diesel prices are bound to rise again during the next round of refined oil price adjustment in March 17.
On March 3rd, the average increase of No.92 and No.95 gasoline was about 0.2 yuan. According to the increase ratio of crude oil price, the average increase of gasoline price per liter is about 0.8 yuan, which is expected to set the biggest increase of domestic oil price this year.
The price of No.92 gasoline in Guizhou, Sichuan, Yunnan, Chongqing, Guangxi and other areas with higher gasoline prices may fly directly into the 9 yuan era.
Whether the logistics and chemical industries related to oil prices will further push up the domestic CPI index will happen in the near future.
International oil prices are still rising sharply, and domestic oil prices may meet "six consecutive rises". With the possibility of imposing energy sanctions on Russia by countries such as the United States and Europe, oil prices continue to rise. The French Foreign Trade Bank expressed concern about this. Except for China, other Asian economies should be prepared for the sharp rise in crude oil and energy costs.
Since the outbreak of COVID-19, the supply chain has been interrupted, supply and transportation have slowed down, freight rates have risen sharply, and oil prices have been rising. However, after the conflict between Russia and Ukraine, oil prices continued to rise, hitting the highest level since 2008 on Monday, about $0/23 per barrel. This has brought further pain to Asian economies that are still trying to recover from the epidemic and try to control the rising inflation.
The news of the possible embargo on Russia has intensified concerns about tight oil supply, and oil prices have soared/Source: Bloomberg
India and Thailand are the "most injured"
According to the French Foreign Trade Bank, families and businesses may bear most of the impact, especially in countries such as India and Thailand. Although most Asian economies have limited direct trade with Russia, the wider impact of high oil prices will indirectly hurt Asian economies. "The market is paying attention to oil because oil prices are basically out of control. What really matters is not direct import and export, but the activities of Russia and Ukraine in the commodity market. "
The financial sanctions imposed on Russia, especially the exclusion of Russian banks from the international payment information system Swift, forced Russian oil to withdraw from the global market, because traders were unable or unwilling to buy oil from Russian sellers.
Source: Associated Press
Oil prices rose in February, and gasoline prices in Vietnam, Thailand, Singapore, the Philippines, South Korea, Japan and India all rose by $5 to-0/0 cent per liter. Among them, Indian consumers are particularly vulnerable to rising prices, because there are almost no subsidies in the Indian government budget. At the same time, Thailand's subsidies are not enough, and rising inflation may limit the country's purchasing power. South Korea and Vietnam are also facing the risk of rising oil prices, because they are Russia's two major customers in the Asian energy market.
China is an "outsider"?
In this energy price crisis, China seems to be an outsider. Although China is a big energy importer, in the long run, China is large enough to absorb higher prices. Moreover, in China's regulated power industry, the consumer price is controlled by the state.
On the positive side, however, Asia is actually far from this crisis. No matter how negative we are, Asia is far less miserable than Europe or Eastern Europe. Many Asian energy importing countries have been recovering from the epidemic and have shown flexibility in dealing with rising energy prices.
Finally, it should be noted that due to the sensitivity of energy prices, any change in Asia's own energy supply will lead to price increases, just like the recent unexpected interruption of natural gas supply by Satu LNG Company in Malaysia.
International oil prices are still rising sharply, and domestic oil prices may meet "six consecutive rises". After the international oil price rose by more than 3% yesterday, it continues to rise today. It can be said that the international oil price has soared continuously recently. At present, the price of Brent crude oil has exceeded 127 USD/barrel, and the price of American crude oil has also exceeded 123 USD/barrel, which makes it possible for a new round of oil price adjustment to be carried out next week to rise sharply. Let's take a look at the latest news of international oil prices.
Today's international oil price: As of the close of the day, the futures price of light crude oil for April delivery in the New York Mercantile Exchange rose by USD 4.30, or 3.60%, to close at USD 123.70 per barrel; London Brent crude oil futures for May delivery rose by $4.77, or 3.87%, to close at $0/27.98 per barrel.
Latest news of oil price adjustment: the new oil price adjustment will be carried out at 24: 00 on March 17, and the statistics of the fourth working day have been carried out. At present, the oil price is expected to increase by 1240 yuan/ton (0.94 yuan/liter-1.65438 yuan/liter).
The latest news of international oil price
According to american petroleum institute (API) data, US crude oil inventories rose last week, while gasoline and distillate stocks declined. As of the week of March 4, crude oil inventories increased by 2.8 million barrels. Gasoline stocks decreased by about 2 million barrels, and distillate stocks decreased by 5.5 million barrels.
On March 8, local time, both the United States and Europe announced an increase in sanctions against Russia. US President Biden announced an energy ban on Russia, which will prohibit the United States from importing oil, liquefied natural gas and coal from Russia; Britain announced plans to stop importing Russian oil and corresponding petroleum products before the end of this year, and it is expected to gradually adjust its purchase of oil from the United States and the Middle East. At present, Britain has not announced whether to stop importing natural gas from Russia.
According to American media, the White House has contacted the governments of Saudi Arabia and Venezuela and asked them to help "make up for the gap in Russian oil production". However, experts say that the soaring international oil price has made oil companies all over the world "do their best" and no one is still "leaving a hand".