Crude oil continued to rise, waste oil also rose in a narrow range

January 01, 2024

Crude oil continued to rise, waste oil also rose in a narrow range

Oil futures in Europe and the United States rose to a two-week high as the Red Sea transport crisis intensified

International Crude Oil Futures Closing Price (2023.12.18) :

WTI January crude settled up $1.04, or 1.46 percent, at $72.47 a barrel.

Brent crude for February delivery settled up $1.40, or 1.83 percent, at $77.95 a barrel.

The deepening crisis in the Red Sea has increased the cost of tanker detour and Houthi attacks on ships in the Red Sea have raised fears of oil supply disruption, driving up the soft power value of oil. International oil prices extended gains to a two-week high on Monday, but gains were capped by a well-supplied crude market and widespread skepticism about Russia's planned December export cuts.

Diesel oil price forecast

Forecast Price of diesel oil in Shandong (2023.12.19) :

International crude oil closed up yesterday, boosting the downstream market mentality. And yesterday refinery gasoline and diesel production and sales balance, shipments significantly improved. It is expected that the market price of diesel oil in Shandong Province will stop falling and stabilize today, and some narrow ranges will rise, and the average price of 0# diesel oil including tax will be about 7180 yuan/ton.

At 24:00 on December 19, the limit price of gasoline and diesel will be lowered, and the price of gasoline will be lowered by 415 yuan per ton and diesel by 400 yuan, equivalent to 89#0.31, 92#0.32, 95#0.34, 0#0.34 yuan per liter.

The waste oil market is up

Waste Oil Price Adjustment (2023.12.19) :

Waste oil East China, North China, Central China mainstream refinery sent prices from yesterday's stable price rose in a narrow range of about 20 yuan/ton. International crude oil rose yesterday, which boosted the market, and the waste oil market continued to rise in a narrow range today.

Domestic recycled oil prices

Recycled Base Oil Price (2023.12.19)

East China, Central China, North China recycled oil 150SN mainstream refinery self-lifting transaction price excluding tax at about 6950 yuan/ton, compared with yesterday's price is mainly stable, some narrow increase. The price of 250SN mainstream refinery is about 7000 yuan/ton without tax. The cost of waste oil is increasing, and refinery profit margins continue to be compressed. Short-term recycled oil market is still insufficient, prices or continue to be stable, narrow adjustment.

Author:

Mr. James

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