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Chinese enhance visibility to highlight the market influence of crude oil trading
- Categories:Industry News
- Author:
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- Time of issue:2020-03-31 14:57
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Chinese enhance visibility to highlight the market influence of crude oil trading
- Categories:Industry News
- Author:
- Origin:
- Time of issue:2020-03-31 14:57
- Views:
Information
The recent Chinese is huge in Asia through physical oil trading to enhance their visibility and influence of crude oil trading market. Data show that China's Petroleum China United Oil Company in 2015 April crude oil market in the Middle East a record purchase 55 shipment, beyond the record October 2014 the previous high of 47 batches.
The cargo was purchased in the Platts window. The Platts window is a real goods trading platform and allow the sale of both sides in the trading day closing paired transactions, and can promote the market price discovery function.
Although many cargo is traded in the Platts window outside, but if you want to be seen as an active participant in the market, into the Platts window; and strong buying that China United Oil hope their giant trading can bring visibility and influence.
Previously when China United Oil October 2014 to buy group of 47 December delivery of crude oil, the market is popular the company hopes the oil can help to fill China's strategic inventory, and with the help of this wave of buying caused by price fluctuations, waiting for an opportunity to hedge paper trading profit. However, this time may not too easy to speculate that the motivation of China United Oil, especially the company this month and sold the April purchased part of the cargo.
Outside of a conjecture is that the company's use of real goods crude oil and paper goods market arbitrage, therefore very pleased to see real goods premium expand; another argument is, in a move to PetroChina's between different sectors of business profit distribution regulation.
With the price of oil, the upstream oil business profit margins are likely to pressure, while the downstream refining and retail business profits will rise.
As a regional index of Singapore refining profits in recent weeks moved up, reported Monday a barrel $9.36, higher than the $8.45 15 day moving average, far higher than the $6.56 365 day moving average.
China United oil buying may make the oil downstream business from the company to buy crude oil prices higher, offsetting some of the refining business profit.
However, regardless of the union oil company of China to improve transaction visibility reasons why, its impact is without a doubt.
Not only China United petroleum crude oil market in Asia have high visibility, Sinopec [microblogging]'s trading company China International United Petroleum and chemical company also increased in the Platts window of visibility. This means that the global large petroleum enterprises under the command of the trading company, and much of the dimension (Vitol) and tok (Trafigura), trader, lost some market influence.
Asian real crude stock trading is like a club, participants are relatively few and all knew each other, here the interpersonal relationship is very important and everyone hope let as much as possible trading activities will not publicly.
China Union Oil Co in such a public way from the Platts window to buy crude oil, seems to reveal their strength. In view of China last month has replaced the United States as the world's largest oil importer, to a certain extent, this is logically speaking.
In addition, the increase in visibility of the joint oil and petrochemical transactions, but also with other commodities, such as iron ore, coal and copper and other transactions in line.
China Trading Company in the market influence is increasing, which may mean is a part of the following efforts, which is to ensure that China as a global commodity largest producer, consumer and importer of status to in pricing power reflected, this argument is not boast.
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