According to the Commodity Market Analysis System of Business Society, as of May 24th, the average price of white oil in the market was 8466 yuan/ton. On May 17th, the average price of white oil in the market was 8483 yuan/ton, a decrease of 0.2%.
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In terms of cost
Crude oil has been falling for four consecutive trading days, WTI crude oil fell to a nearly three-month low. The main reason is that the high interest rate environment in the United States has brought pressure to demand, and in addition, US inventory data is bearish and geopolitical risk premiums are decreasing.
In terms of supply and demand
On the supply side, the supply from upstream refineries has slightly decreased. Light white oil manufacturers have made price adjustments to individual models this week. On the demand side, the market transaction atmosphere is sluggish, and downstream low-priced rigid demand procurement is the main focus.
Future Market Forecast
At present, the trading atmosphere in the market is sluggish, and it is expected that the white oil market will undergo weak consolidation and adjustment. Suggest paying attention to the adjustment of upstream oil prices.
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