Can Domestic Oil Prices Look At New York'S Face?
New York
crude oil
Futures prices fell by 5.8% on Thursday, directly refreshing the closing price of the main contract after February 18th.
Since the beginning of this year, the price index has dropped by 5.2%.
However, such a huge decline is not a blessing for domestic consumers, because the domestic oil pricing mechanism is not referring to the more representative international crude oil futures prices in New York, but the crude oil rate of change in Brent, Dubai and Xin Tasan.
According to monitoring data, the average price of Brent crude oil in 6 and July was 4 less than in May and less than 2% in May.
According to the domestic pricing mechanism of refined oil, only three of the crude oil change rate reaches 4%, then the price can be adjusted.
China in line with international standards
product oil
Why does the pricing mechanism abandon the most representative New York crude oil futures price?
It is understood that on the one hand, the price of New York crude oil futures reflects more the changes in the US economy, and the linkage with the US economic changes is too strong. On the other hand, China has never imported crude oil in the North American market.
China's ten largest importers of crude oil in recent years are Saudi Arabia, Angola, Iran, Oman, Iraq, Russia, Venezuela, Sultan, Kuwait and Kazakhstan.
Here, I have to remind the makers of the oil pricing mechanism, in fact, Brent's oil price is more vulnerable to geopolitical factors.
The political turbulence in the Middle East's oil price changes may not be smaller than the US economic change rate highlighted by New York crude oil futures price.
In addition, it is worth noting that in the international oil paction, the US dollar monopolized the position of settlement currency.
Therefore, the price of New York crude oil futures will also be used as domestic refined oil.
Price
A reference, or will better reflect the "international integration".
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