Vehicle owners, please take note! On April 7, the first working day after the Qingming Festival holiday, domestic refined oil prices will be adjusted at 24:00. Below is the fuel price adjustment calendar for this year.
As of the morning of April 7, Beijing time, international oil prices surged sharply. By 12:17, NYMEX crude oil was quoted at $116.36 per barrel, while Brent crude oil reached $111.67 per barrel.
According to a report today, citing unnamed sources by Iranian authorities, an explosion occurred in the Jubail Industrial Zone in northeastern Saudi Arabia, which involves U.S. capital participation. The incident was described as a large-scale attack.
In a previous report, the Organization of the Petroleum Exporting Countries (OPEC) issued a statement on the 5th, announcing that eight major "OPEC+" oil-producing countries—Saudi Arabia, Russia, Iraq, the UAE, Kuwait, Kazakhstan, Algeria, and Oman—have decided to increase daily crude oil production by 206,000 barrels starting in May. This marks the second consecutive month that these eight countries have announced production increases.
Over the past five weeks, conflicts in the Middle East have led to significant volatility in oil prices. In March, prices climbed to nearly $120 per barrel. As of April 6, both Brent crude futures and WTI crude futures remained at high levels around $110 per barrel.
With the risk of escalating conflicts, disruptions to energy transportation through the critical Strait of Hormuz may be prolonged. Below are several fuel-saving tips worth keeping in mind.
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