Price: 610.3 yuan/barrel
Analysis: overnight international oil prices fell sharply on Friday, WTI crude oil fell nearly 6%, falling below the $80 threshold. Affected by this, the SC crude oil in the internal market fell rapidly and sharply on Monday. On the 26th, the main contract of SC crude oil fell 6.27% to close at 610.3 yuan/barrel. Macroscopically, the continuous strengthening of the US dollar has brought pressure on oil prices. In addition, the risk of economic recession is aggravated by the sharp interest rate increase of the global central bank, which then depresses the fuel demand. In addition, as the refinery entered the autumn overhaul period, the decline in operating rate led to the accumulation of crude oil, and many factors triggered a panic decline in the oil market.
Forecast: In the short term, there will still be pressure from the demand side on oil prices, panic selling will continue to depress oil prices, and the oil market will still bottom out. However, in the medium term, the oil supply pattern has not changed and the shortage is expected to remain unchanged. As winter approaches and heating demand increases, the oil market is still likely to rebound.