According to the arbitrage data of oil products import and export, Singapore’s oil products market is also on the rise. In the first half of May, the arbitrage space of gasoline and diesel imports rose and fell in different directions.
In May, the price of international crude oil futures fluctuated and rose, and the rate of change was continuously extending. However, influenced by the “floor price”, the retail price was still suspended. At the same time, the sales progress of the main units in the region is good, so at present, poly is the first, and all units are pushing up the price of gasoline and diesel. The market trading atmosphere is general. At the same time, the prices of gasoline and diesel in Singapore are higher, but the increase of gasoline is larger on a month on month basis. Therefore, in the first half of May, Singapore’s import arbitrage of gasoline and diesel showed a trend of gasoline falling and diesel rising on a month on month basis.
For specific reasons, in the first half of the month, the price of international crude oil futures fluctuated higher. Influenced by the “floor price” mechanism, the retail price continued to stop adjusting, so the main unit’s ex factory price remained stable. At the same time, Singapore’s gasoline and diesel prices rose with the international oil prices, with gasoline prices rising significantly. Therefore, the loss range of gasoline and diesel exports in the first half of the month showed a mixed trend, with gasoline exports significantly narrowed.
As for the future market, the international crude oil futures shock is the main actor, and the news gives support to the oil market. At the same time, in the near future, the starting load of main and local refineries is high, and the market resource supply is relatively abundant. Downstream demand is good, unit load of outdoor industrial and mining, infrastructure and other terminal oil consumption is rising, and diesel demand is stable. At the same time, with the temperature gradually rising, vehicle travel will gradually increase, and the gasoline market demand is expected to increase. Main unit gasoline and diesel prices may rise moderately. At the same time, Singapore’s gasoline and diesel prices may continue to explore with the international crude oil futures, and it is expected that the loss of Singapore’s gasoline and diesel exports will continue to narrow in the second half of the month.