Domestic refined oil product prices are scheduled for adjustment at 24:00 on May 8th. The current statistical period for this price adjustment spans 10 working days. As of now, five working days have passed, marking the halfway point of the data collection period. Influenced by recent consecutive increases in international crude oil prices, the current crude oil change rate has reached 2.56%, indicating an anticipated price hike of 210 yuan per ton. Based on this projected increase, prices for gasoline and diesel are expected to rise by 0.16 yuan to 0.19 yuan per liter. Previously, by the end of last Sunday, after three working days of data collection, the expected increase was only 100 yuan per ton.
On April 28th, Beijing time, international oil prices climbed rapidly, while spot prices for gold and silver fell sharply. Both U.S. crude and Brent crude rose by over 2%. New York futures oil reached $98.9 per barrel, up 2.6% for the day, while Brent crude stood at $104.3 per barrel, also increasing by over 2.6%. This surge followed reports earlier on Monday that persistent disruptions to crude oil exports from the Middle East were driving international prices higher.
Wall Street investment bank Goldman Sachs recently raised its average price forecast for Brent crude futures in the fourth quarter of this year to $90 per barrel, up from a previous expectation of $80 per barrel. Citigroup also warned that if the blockage of the Strait of Hormuz persists until the end of June, Brent crude futures prices could potentially surge to a historic high of $150 per barrel.
By the close of trading on the 27th, the price for June delivery of West Texas Intermediate light crude oil on the New York Mercantile Exchange settled at $96.37 per barrel, a gain of 2.09%. The price for June delivery of London Brent crude futures closed at $108.23 per barrel, rising by 2.75%.
In the precious metals market, expectations grew that major global central banks, including the U.S. Federal Reserve, the European Central Bank, and the Bank of England, would issue warnings about upside risks to inflation following their policy meetings this week. This suggested that the overall path of accommodative monetary policy in developed economies might be subject to future adjustment. As long-term U.S. Treasury yields rose, international prices for both gold and silver fell on Monday.
At the market close, the price for June delivery of gold futures on the COMEX division of the New York Mercantile Exchange settled at $4,693.70 per ounce, down 1%. The price for May delivery of silver futures closed at $75.025 per ounce, declining by 1.82%.
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