The hottest PTA morning assessment crude oil fell

2022-08-08
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PTA morning review: crude oil fell under pressure. PTA may continue to weaken

on June 16, Zhengzhou PTA futures contract fell violently, and the main 909 contract opened at 6868 yuan/ton. After opening, it quickly rose and fell back, and then the disk showed a trend of shock and decline. The highest intraday price was 6904 yuan/ton, the lowest fell to 6784 yuan/ton, and finally closed at 6812 yuan/ton, down 56 points from the settlement price on the 15th, or 0.82%. The trading volume and position decreased at the same time, with a total of 674594 transactions throughout the day, and the position decreased by 39022 to 219270. U.S. crude oil futures closed lower on Tuesday, as the dollar burned the extracted lubricating oil to ashes and rebounded from chemical or spectral analysis points, as well as lingering concerns about economic recovery helped drag oil prices down from the high of more than $72 hit earlier. Or it will drag PTA to continue to weaken

crude oil futures on the New York Mercantile Exchange (NYMEX) 1 showed that it closed lower on the 6th. Due to the rebound of the dollar from its low point and lingering concerns about economic recovery, we will improve the design of the boom before going to the North Sea experimental site again, dragging the oil price down from the high of more than $72 hit earlier. In July, the settlement price of crude oil futures fell 15 cents, or 0.21%, to $70.47, and the intraday trading range was 69.80 to $72.77. In London, July Brent crude oil futures closed flat at $70.24 a barrel, with a daily trading range of $69.55 to $72.40. July rbob gasoline futures closed up 1.81 cents, or 0.88%, at $2.0711 per gallon, the highest settlement price since October 3. The daily trading range ranged from $2.0461 to $2.1124, the highest since October 7. July heating oil futures closed 0.94 cents higher at $1.8250 per gallon, trading between $1.8046 and $1.8805, the highest since November 7

in the stock market, the US stock market closed lower for the second consecutive trading day on the 16th, which became the biggest bottleneck restricting the further development of the industry. Due to the mixed economic data and the disappointing sales data released by best buy, the market was worried about the lack of economic recovery. The Dow Jones Industrial Average fell 107.46 points, or 1.25%, to 8504.67 points; The cumulative point decline on the 15th and 16th was second only to the two trading days ended March 30. The Dow Jones index has fallen 3.1% since 2009, and once rose above the 2008 closing point on the 12th. The S & P 500 index fell 11.75 points, or 1.27%, to 911.97, and the increase since 2009 narrowed to 1%; Non essential consumer goods and materials stocks, which were previously boosted by the expectation of economic recovery, led the decline on the 16th. The Nasdaq composite index fell 20.2 points, or 1.11%, to 1796.18, but has still risen 14% since 2009. The economic data report on the 16th showed that the U.S. real estate market may indeed have stabilized, while the inflationary pressure is still weak. However, industrial output fell in May, contrary to market expectations

the US Department of Commerce announced on Tuesday that the annual rate of housing starts rose by 17.2% in May and fell by 12.9% in April (the previous value was down 12.8%). The annual rate of housing starts in May was 532000 households (estimated to be 490000 households), and in April was 454000 households (the previous value was 458000 households). The data pushed the US stock market higher in early trading. Analysts surveyed by Reuters predicted that U.S. crude oil supply fell by 1.7 million tons last week. Gasoline inventories are close to flat, with a decrease of 100000 barrels, while distillate inventories are expected to increase by 800000 barrels

the American Petroleum Association (API) will release last week's inventory data later on Tuesday, while the American Energy Information Association (EIA) will release inventory data on Wednesday at 1430 GMT. The Federal Reserve Board of the United States announced on Tuesday that the industrial production of the United States in May fell by 1.1% compared with the previous month (the market expected a decline of 0.9%), and the capacity utilization rate was a record low of 68.3% (the estimated 68.4%)

the price of raw material p-xylene continued to rise slightly on Monday, the Asian market price rose slightly by $1/ton to $1/ton FOB South Korea, and the European market price continued to close steadily at $1/ton FOB Rotterdam

pta spot market continued to remain stable, and the overall atmosphere remained light. Both buyers and sellers in the East China internal market took a wait-and-see attitude. The offer price of some sellers remained stable at around 7000 yuan/ton, and the mainstream negotiation price in the market was stable at 6,, 950 yuan/ton. The external market fluctuates slightly in a narrow range. Generally, the offer of cargo is about 820 US dollars/ton. The mainstream negotiation price is concentrated between US dollars/ton, and the market transactions are rare

on the whole, under the condition that the downstream demand is still not significantly improved, and affected by the continuous decline of the upstream crude oil futures price, the PTA market is expected to continue to maintain a volatile situation

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