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Why the continued decline in international crude oil prices will cause the chemical industry sector to fall

The continuous fall in international crude oil prices will cause the chemical industry sector to fall because there is a certain relationship between the two. The price increase of chemical products is caused by excessive oil prices.

Looking back at the last closing data (November 26): international oil prices plummeted.

The settlement price of the main U.S. WTI crude oil futures contract was US$68.15/barrel, a decrease of US$10.24, or 13.1%, and the settlement price of the main Brent crude oil futures contract was US$71.59/barrel, a decrease of US$9.33, or 11.5%.

Oil prices hit nearly 11-week lows, which was also the largest one-day drop since April 2020.

Mainly due to the discovery of a new variant strain of COVID-19, which triggered market panic and intensified market concerns about future demand recovery, the capital market was shocked, and oil prices fell sharply along with global stock markets.

On November 29, the sixth trading day of this round, international oil prices rebounded by nearly 5% in early trading today after plummeting last Friday.

Affected by the change in crude oil, the predicted decrease is 65 yuan/ton higher than the previous working day. The domestic oil price is predicted to be reduced by 200 yuan/ton cumulatively, which is converted to 0.15-0.17 yuan/liter. Calculated based on the owner’s 50-liter fuel tank, a full tank of oil can be

Save about 7.5 yuan.

Cloud oil supply reminder: It is now the sixth day of the statistical cycle. Based on the current market trend, oil prices may fall sharply this week!

Oil prices will change every day. The data on that day is for reference only. For actual price adjustments, please refer to the National Development and Reform Commission’s announcement on the last day. To buy oil, refuel, and check daily oil prices, you can follow: Search the mini program "Cloud Oil Supply" and click on oil price information

, understand the rise and fall of oil prices in real time.

The next round of price adjustment time is: 24:00 on December 3!

Today, domestic gasoline and diesel prices fluctuated and fell, with a range of 50-350 yuan/ton. Only in central and southern China did some units of diesel prices rise, with a range of 50 yuan/ton.

Affected by the deep decline in the closing price of international crude oil, coupled with the fact that the main business at the end of the month was accounting, and affected by the mentality of buying up and not buying down, the cautious wait-and-see mood of terminals increased. The overall market buying and selling atmosphere continued to be rational, and the transaction performance was poor.