Crude oil forecast for this week (20151019)
Thread Content
The scale of the price increase is relatively small; overall sales and purchases will remain modest (20151019). With only one working day left before the price adjustment takes effect, and based on the current trend in crude oil prices, the domestic refined oil market will see its 7th price increase this year at 24:00 tomorrow night. However, due to the insufficient rise in crude oil prices earlier on, the extent of this increase in refined oil prices will be limited. Once the policy is implemented, most sales entities will raise their prices, with an increase of around 50–100 yuan per ton; as a result, the mainstream prices in China’s refined oil market are expected to rise this week. However, the increase is modest, resulting in limited stimulus for market buying and selling; therefore, businesses will certainly purchase only as needed, and overall buying and selling activity will remain average.
As of the close on October 16, the change rate for crude oil on the 9th trading day was 3.32%, resulting in an increase of 81 yuan per ton. The price adjustment period will begin at 24:00 on October 20.