1. Influence of supply and demand

Supply and demand is the fundamental factor that affects the pricing of any commodity market, and fuel oil is no exception.

2. Influence of asphalt price trend

Fuel oil is a downstream product of asphalt, and asphalt price trend is an important factor affecting the supply and demand of fuel oil, so there is a strong correlation between fuel oil price trend and asphalt.

3. The influence of production policies of oil-producing countries, especially OPEC members

4. The influence of international and domestic economy

5. The influence of geopolitics

Among the factors that affect oil prices, geopolitics is one of the important factors that cannot be ignored. In geopolitics, revolutions or riots in the world's major oil-producing countries and wars in the Middle East, especially the recent spread and intensification of terrorism around the world, will have an important impact on oil prices. Looking back on the trend of oil prices in the past 3 years, it is not difficult to find that major geopolitical changes in the world's major oil-producing countries or the Middle East will be reflected in the trend of oil prices.

6. Speculative factors

International hedge funds and other speculative funds are the most active speculative forces in various oil markets. Because the fund has a deeper understanding of macro fundamentals and has a "foresight", there is a very good correlation between the fund's position and the rise and fall of oil prices. Although the price may rise and fall excessively under the influence of the fund's participation, understanding the fund's trend is also the key to grasping the market.

7. Influence of relevant markets

Influence of exchange rate. International fuel oil transactions are generally priced in US dollars, but at present, several major currencies in the world are subject to floating exchange rate system, and the international fuel oil price priced in US dollars is bound to be affected by the exchange rate. The impact of interest rates. Interest rate is an important means for the government to regulate the economy. According to the change of interest rate, we can understand the government's economic policy, thus predicting the evolution of economic development and its impact on the demand for asphalt and fuel oil. Therefore, both the exchange rate market and the interest rate market have a considerable impact on oil prices.