Today marks the last working day of the new round of oil price adjustments, with an expected increase of 140 yuan/ton for gasoline and 135 yuan/ton for diesel. This translates to an increase in fuel prices of 0.11 yuan/liter to 0.13 yuan/liter. Compared to yesterday, the estimated price increase continues to rise by 20 yuan/ton, far exceeding the threshold for an increase. Tonight, fuel prices are set to rise!
Please note, fuel prices are going up tonight.
Please be aware that international oil prices continued to fall yesterday and experienced another round of increases upon closing this morning, with the overall decline being limited. Domestically, it is anticipated that fuel prices will remain stable and tonight is the scheduled adjustment for fuel prices. Car owners are advised to fill up their tanks in advance.
In terms of international oil prices, US crude oil closed down by 0.85% yesterday, at $72.67 per barrel, while Brent crude oil closed down by 0.88%, at $76.76 per barrel. Today's oil prices continue to fluctuate, with US crude oil temporarily reported at $73.53 per barrel, an increase of 0.23%.
The decline in international oil prices yesterday was primarily due to a significant increase in EIA crude oil inventories, but the market still harbors concerns about Israel attacking Iranian crude oil facilities, which has limited the extent of the price drop.
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The latest report from the US Energy Information Administration (EIA) has revised down the demand forecast for 2025. The current prediction is that global oil demand will grow by 1.2 million barrels per day next year, down from the previous forecast of 1.5 million barrels per day.
Hedge fund manager Pierre Andurand stated on Tuesday, "If Israel targets Iran's oil export facilities, it could destroy approximately 1.7 million barrels of oil supply per day, potentially causing a surge in oil prices of $10 to $15 per barrel."
Energy expert Scott Shelton from TP ICAP Group Plc commented, "My sense of the current market position is that non-professionals are taking long positions, while professional traders are choosing to stand on the sidelines and not enter the market."
In summary, international oil prices continue to fluctuate, with the market still monitoring the situation in the Middle East. There will also be a US unemployment benefit and CPI report this evening, which could potentially impact oil prices.