Guangzhou Petrochemical foundation solvent oil market outlook, the main trend of price reduction

(Tue) deserted the domestic market continues to trend of solvent oil. Sharp focus, the price of Guangzhou Petrochemical surfaced this afternoon, not surprisingly, is still down, down 6 # solvent oil offer 150 to 7900 yuan / ton, down 120 # solvent oil offer 250 to 7600 yuan / ton , the introduction of the price adjustment will increase the market's wait and see mood, coupled with the sharp early drop in international crude oil prices and the negative impact of weak downstream demand, some traders may lead to price promotions, the new round of price

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foundation afternoon callback mainstream. Mainstream domestic prices: North Market 7450-7550 yuan / ton; East China market, 7700-7800 yuan / ton; South China market, 7600-7700 yuan / ton; Central Market 7700-7800 yuan / ton.
   Crude oil futures edged lower following the U.S. stock market to wait for Wednesday's weekly U.S. oil inventory data can be presented more clearly short-term market trends. NYMEX 6 月 Light, sweet crude settled down 43 cents to $ 76.37 a barrel, after trading between 75.53-77.68 U.S. dollars. ICE Futures Exchange, June Brent crude futures contract settled up 37 cents to $ 80.49 a barrel. NYMEX 6 月 RBOB gasoline futures contract settled up 2.26 cents to $ 2.1952 a gallon, or 1%. NYMEX 6 March heating  oil contract settled up 1.99 cents to $ 2.1401 a gallon, or 0.9%.
    Spot, the Kuwaiti crude oil sold to Asian buyers in June raised the official price of a barrel below the Oman / Dubai average price of $ 1.90, the spread in the Reuters survey, the expected range. July Dubai crude fell $ 1.52 stock valuation, to 79.93-79.98 U.S. dollars / barrel.
    Market outlook forecast, due to China's strong demand for refined oil. To meet the demand, China will likely increase imports, and Chinese oil demand will reach 865 million barrels, up 5.5% over the same period. Crude oil is expected to return to 80 dollars / barrel. In addition the market will also benefit from Wednesday's weekly U.S. petroleum inventory data for short-term guidance.