Oil Price Adjustment Confirmed for July 17th

Deep News17:33

International oil prices experienced a significant surge on July 13th. At the close of trading, the price for light sweet crude oil for August delivery on the New York Mercantile Exchange rose by $6.73 to settle at $78.14 per barrel, marking a gain of 9.42%. Concurrently, Brent crude for September delivery on the London ICE Futures Europe exchange increased by $7.29 to finish at $83.30 per barrel, representing a 9.59% rise.

Domestic refined oil product prices in China are scheduled for a new adjustment at midnight on July 17th. The current statistical period for this price review, which spans 10 working days, has reached its seventh day as of July 14th. Current forecasts indicate that gasoline prices are expected to rise by approximately 85 yuan per ton. When calculated for retail consumers, this translates to an average increase of about 0.07 yuan per liter. Consequently, filling a 50-liter tank will cost an additional 3.5 yuan.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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