Crude oil and gasoline prices rose, but during the Spring Festival, gasoline demand was expected to be poor, MTBE market shipment was hindered, and the domestic MTBE market price rise was less than that of crude oil and gasoline. According to the data of business news agency, the price of MTBE on February 5 was 4700 yuan / ton, up 2.92% from the beginning of the week.
On the one hand, the extremely cold weather caused by the blizzard attack in the southeast of the United States has led to a rapid rise in fuel heating demand. Moreover, recently, the organization of Petroleum Exporting Countries and its allies (OPEC +) have continued to effectively promote production reduction, which has brought a good supply side environment to oil prices. Moreover, the sharp decline in US commercial crude oil inventories in the past two weeks has become a direct driver to stimulate the rise of oil prices. International crude oil prices rose sharply this week, with WTI crude oil up 8.91% and Brent crude oil up 7.81%. In terms of gasoline, the weather is getting warmer, and local governments are advocating local Chinese New Year holidays. The terminal demand for gasoline is lower than that of the same period. Recently, the international crude oil price has risen sharply, which has promoted the enthusiasm of downstream customers to prepare goods and pushed up the price of gasoline.
The recent sharp rise in international oil prices has promoted the increase of downstream stock preparation intention before the festival, increased the purchasing enthusiasm of MTBE and other raw materials, smooth delivery of MTBE manufacturers, and actively promoted the rise of low inventory. At present, the price of MTBE is at a high level, and the price of MTBE continues to rise less than that of crude oil and gasoline.
MTBE product analyst of business society energy branch thinks: after the international crude oil price rises sharply, it is likely to maintain a high level, and it is less likely to continue to explore the high level. The gasoline market demand is less than expected, and the gasoline price is mainly stable. It is expected that the MTBE market price will be stable.
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