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【Crude oil close】As of the close on January 11: WTI rose 2.
29 to $77.
41 / barrel in February 2023, an increase of 3.
05%; In March 2023, Brent rose 2.
57 to $82.
67 per barrel, an increase of 3.
21%.
China's crude oil futures SC workhorse 2303 closed down 5.
2 yuan/barrel at 522.
4 yuan/barrel
.
【Market dynamics】From the perspective of news, first, the United States EIA crude oil inventory changes in the week ended January 6 actually increased by 18.
962 million barrels, strategic petroleum reserve (SPR) inventories decreased by 800,000 barrels to 371.
6 million barrels, EIA gasoline inventories actually announced an increase of 4.
114 million barrels, EIA refined oil inventories actually announced a decrease of 1.
069 million barrels, mainly due to the shutdown of most refineries in the US cold wave last week, resulting in a sharp increase
in crude oil inventories 。 Second, the Ministry of Commerce recently issued the second batch of crude oil non-state trade import allowances in 2023, with a quota of 111.
82 million tons, an increase of 112.
2%
over the second batch last year.
Combined with some of the allowable amounts issued in advance in the early stage, a total of 131.
82 million tons
of imported crude oil quotas have been issued so far in 2023.
The recent surge in domestic refined oil prices, especially diesel prices, has boosted expectations for a recovery in Chinese demand
.
Third, a G7 official said the alliance would seek to set two price caps on Russian refined products in February, one for products traded at a premium and the other for products traded at a discount
.