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During the domestic Spring Festival holiday, the international oil price hit a new high since 2016 due to many favorable conditions
.
Affected by this, at 24:00 on February 17, the domestic oil price is likely to rise, or usher in a "four consecutive rises"
Since February, international crude oil prices have been on the rise as a whole, with mostly positive fundamentals.
U.
S.
As of the close on February 11, the price of light sweet crude oil futures for March delivery on the New York Mercantile Exchange rose $3.
22 to close at $93.
"On the whole, international crude oil prices are mainly volatile in this cycle, resulting in the change rate of crude oil referenced in China has always remained positive and fluctuated on the high side
.
" said Wang Luqing, a refined oil analyst at Zhuochuang Information
According to the calculation of Jinlianchuang, as of the sixth working day on the 11th, the change rate was 3.
05%.
Wang Luqing also believes that the current international oil market is strong in reality and weak in expectations.
It will take time to increase supply after the Iran nuclear deal is reached, and the current U.
Wang Shan analyzed that the sharply higher crude oil during the Spring Festival holiday provided obvious support for the oil market
.
In terms of supply and demand, due to environmental inspections and other factors, the operating rate of local refining continued to decline, and the output of refined oil products showed a tightening trend