The direction of the crude oil market can be observed under the South China Chemical Index, and the general direction can be seen from the index and actual market conditions.

Looking at the international market, the international crude oil market continued to rise last week. On the positive side, U.S. crude oil inventories have dropped significantly, and it is difficult to make progress in the Iranian nuclear negotiations. As of December 16, the U.S. WTI crude oil futures market price increased, with the settlement price of the main contract at $72.38/barrel, an increase of $0.71/barrel from the previous week. Brent crude oil futures market prices fell, with the main contract settlement price at $75.02/barrel, a decrease of $0.13/barrel from the previous week.

Last week, the domestic chemical product market rebounded. Judging from the 20 products monitored by Guanghua Trading, 6 products rose, 5 fell, and 9 remained unchanged.