The U.S. Energy Information Association (EIA) released data show that U.S. crude oil inventories fell last week

The U.S. Energy Information Association (EIA) released data show that U.S. crude oil inventories fell last week, although located in the crude oil delivery – Oklahoma Cushing inventories increased significantly, while gasoline and distillate inventories increased, due to refinery capacity utilization rose. In addition, last week, Amsterdam – Rotterdam – Antwerp (ARA) center of diesel oil stocks fell sharply.

In addition, the Singapore International Enterprise Development Council (IE) released data show that in November 30th when the week, including Singapore naphtha, gasoline, reforming light distillate inventories increased 1 million 182 thousand barrels of oil, until recently, a 3 month high of 12 million 886 thousand barrels. Medium distillate oil inventories increased 1 million 516 thousand barrels, 14 million 897 thousand barrels to recent 10 week highs. Including fuel oil and residual fuel oil inventory, lswr (excluding asphalt) fell 1 million 532 thousand barrels to 3 barrels last week low of 22 million 323 thousand.

Sharp rise in crude oil has also led to the upstream futures related chemicals. Yesterday, asphalt, rubber, PTA futures rose more than 3%, PP futures rose more than 2%. It is noteworthy, PTA futures last two days eye-catching performance, the main contract rose 6%.

With the establishment of the upward trend of crude oil prices, central PTA will gradually move. Over the past 1 weeks polyester operating rate rose slightly, polyester inventory fell again, some varieties of only 2 days of product inventory; Zhejiang loom operating rate, fabric also has slight price increase. PTA operating rate, little change. PX and naphtha spreads in 360 U.S. dollars / ton, PX spot PTA absolute pure cost corresponding to 4400 yuan / ton. PTA industry chain of good posture, upward trend.

Relatively speaking, the price of crude oil in the second half of the year or not, in other commodities rose sharply after compensatory growth, limited production is just a fuse. Oil prices experienced a revaluation, the price is relatively reasonable. Looking ahead, he said, the price could test $60, but the year is not the probability of hit. During the year the good has been out, the Fed rate hike is bearish on oil prices. Although limited production reached agreement, but the pattern of supply and demand in a short period of time is unlikely to reverse. From the terminal, the downstream end product didn’t rise, can continue to transfer further observation, overall related varieties of speculation little space.