Recently, the price of international crude oil market and domestic oil products have been soaring, and the price center of domestic MTBE market has moved up. The price of MTBE was 5,466 RMB/ ton on March 8, up 4.39% on March 3, according to SunSirs.
The results of the OPEC+ meeting finally came to fruition, and the organization agreed to extend the oil production reduction to April; oil and military facilities in Saudi Arabia were attacked. The international crude oil market was stimulated by double positive factors, and the international oil price soared. In the past three days, the price of WTI and Brent crude oil soared by more than 10%. In terms of gasoline demand, the market demand returned to the level before the festival, and the "eight consecutive rises" of refined oil price adjustment were implemented. The market was bullish, and the demand for terminal replenishment and hoarding increased.
As the international oil price rises, the purchasing enthusiasm of middlemen in MTBE market increases, and the domestic gasoline demand is relatively stable, the demand for MTBE and other intermediates is supported. It is also reported that there is still a maintenance plan for the MTBE plant, and the market supply tends to be tight. At present, the price of domestic MTBE market is mainly rising.
SunSirs MTBE product analyst believes: the possibility that the price of refined oil will follow the correction of crude oil price in the near future, the price of MTBE market will rise to a high level in China, and it is expected that there will be a price correction in the short term.
