The crude oil market is experiencing the baptism of geopolitics. Although its price has dropped slightly in volatility, the potential crisis is still surging. In recent days, Russian refineries have been frequently attacked, causing deep concerns about supply disruptions.

Sudden! 12 Russian refineries attacked!

It is reported that under the ingenious planning of Ukraine and the covert support of Western countries, drones have become a powerful tool for attacks. They have sneaked into the depths of Russian refineries many times like ghosts, creating a disturbing threat. So far, 12 refineries have suffered this invisible attack. These attacks have not only brought RussiaProduction loss of 80 million litres of refined oil per dayIt is a direct weakening of its crude oil refining capacity, equivalent to a reduction of 550000 barrels per day. In other words,This means that about 70000 tons of refined oil supply disappear from the market every day, and Russia's crude oil digestion capacity has also been reduced by 550000 barrels.

Back to $80! Analysts warn of global supply chains or challenges!

On March 25, the attacks escalated again, and oil prices soared. Brent crude oil prices returned to a high of $86 per barrel, while WTI crude oil prices also broke through the $81 mark. The nerves of the market were touched again, full of vigilance for the future trend.

At the same time, the decline in the number of active rigs in the United States has also added to the market's concerns about supply. According to data from energy service company Baker Hughes, the number of active rigs in the United States fell by one to 509 last week, indicating that future supply may be affected.

US Secretary of State Blinken's warning has added fuel to the already tense Middle East. He warned Israeli Prime Minister Benjamin Netanyahu of the risk of further global isolation if Israel attacks the Palestinian city of Rafah in the Gaza Strip. These factors together to promote the rise of oil prices, the market's nerves once again tense.

Nissan Securities旗下NS Trading总裁Hiroyuki Kikukawa对此表示："The escalation of geopolitical tensions, especially the attacks on energy facilities in Russia and Ukraine, and the weakening of the prospect of a ceasefire in the Middle East, have raised deep concerns about global oil supply."He also pointed out: "The decline in the number of active rigs in the United States has also increased the tension about supply."

Relevant people suggest "hoarding oil to avoid danger"!

Despite the changing international situation, Russian crude oil still occupies an important position in China. From 2016 to 2018, Russia became China's largest crude oil supplier for three consecutive years. Although Saudi Arabia's crude oil exports to China increased significantly from 2019 to 2021, surpassing Russia to rank first, Saudi Arabia will continue to be China's largest source of crude oil imports in 2022, while Russia ranks second.

In the face of the continuous rise of international oil prices and the impact of the possibility of Russian oil production reduction in the future, some people in China are not optimistic about the international oil price situation in 2024. They believe that from the perspective of the warming of the domestic economy, the rise in domestic market demand will further increase the impact of the price of end products brought about by the rise in international oil prices. Therefore, from the generation point of view, the appropriate establishment of a certain amount of oil reserves can effectively prevent the cost increase in 2024 due to the rising trend of oil prices. Especially for industrial enterprises, due consideration should be given to "hoarding oil to avoid danger" and reserve fuel and lubricating oil products in advance.

At present, the oil prices of major brands are on the rise, whether it is the Great Wall, Kunlun or Uni-President and other brands, there have been different ranges of price increases. The volatility of the market reminds us once again that the changes in the crude oil market are not only a game of numbers, but also a severe test of global economic stability.

Part of the product price tide has appeared!

▶▶BASF has raised prices 4 times in a row!

On March 13, 2024, BASF sent another letter to increase the price of its PA6/PA66 products, and this is the second time BASF has increased the price of PA6/PA66 products in the past month.
On February 13, BASF announced price increases for caprolactam, polyamide polymers and copolyamides in North America.

In addition, it is understood that on March 5, BASF announced the price increase of antioxidants and hindered amine light stabilizers (HALS).

At the beginning of this month, Shanghai BASF listed 21000 yuan/ton of aggregate MDI in March, up 2000 yuan/ton from last month. The settlement price in February will be 16800 yuan/ton, and the aggregate MDI will stop shipping to the distributor channel a month ago.

▶▶Kanghui New Material PBT Announces 300 Rise!

Kang Hui New Materials Technology Co., Ltd. Kang Hui International Trade (Jiangsu) Co., Ltd. issued a notice of price adjustment, saying that due to the continuous rise in raw material prices and the pressure on PBT production costs, the company decided to adjust the price of PBT products through research: the transaction price of PBT specifications was increased by 300 yuan/ton. The above price adjustment will be implemented from March 16, 2024.

▶▶Many titanium dioxide manufacturers began to increase prices!

The third wave of titanium dioxide price rise tide has been brewing, ready to go. March 18, 2024 titanium dioxide leading enterprises Longbai Group issued this year's third price adjustment letter. The price adjustment letter is actually the price increase letter, because the price of titanium dioxide has been going up this year and has never been down.

Longbai Group: On March 18, Longbai Group issued a price adjustment letter to increase the price of its titanium dioxide products. According to the price adjustment letter, starting from March 18, 2024, the sales price of various models of titanium dioxide of the company will be increased by 500 yuan/ton for various domestic customers and 100 US dollars/ton for various international customers on the basis of the original price.

Subsequently, a number of companies have issued price increase letters:

▶▶Shandong Lubei: Increase 500 yuan/Ton

▶▶Hengtong Titanium Industry: Increase 500 yuan/Ton

▶▶Hunan Yutu Titanium Industry: Up 500 yuan/Ton

▶▶Haifengxin Chemical: Up 500 yuan/ton

Source: Internet, Guanghua Trading, New Sight, etc.