Last week, international crude oil showed an upward trend. Driven by oil products, Shandong refineries saw relatively active trading in toluene and xylene, with market low-priced resources decreasing and tentative price hikes. The overall situation in East China remained relatively stagnant, with limited fluctuations in both directions. Currently, the cross-regional liquidity of domestic resources has weakened, and most are consumed in the surrounding areas. As the weekend approached, the concentrated and successive replenishment ended, and the market atmosphere weakened somewhat. Refineries showed some flexibility, and overall, purchases were made based on demand, waiting for further changes in the market.
This week’s forecast: Closely monitor the impact of external news. Currently, refineries are under some inventory pressure, and there are signs of a short-term decline. Constrained by the demand side, the overall market is expected to remain weak. At this stage, prices are in the low range, and caution is needed in operations.
