Mixed C5 prices rise despite weak demand as crude oil falls over 7% on US-Iran progress

I. Key Focus Areas

1. Crude Oil: On November 2, ongoing progress in US-Iran negotiations eased market concerns regarding supply risks, leading to a decline in international crude oil prices. The NYMEX WTI December contract fell by $7.66/bbl to $96.46/bbl (-7.36% WoW). The ICE Brent January contract (after roll) dropped by $8.66/bbl to $104.77/bbl (-7.63% WoW). In China, the INE crude oil futures December 2026 contract rose by 17.6 yuan/barrel to 745.2 yuan/barrel during the day session, but fell by 64.2 yuan/barrel to 681 yuan/barrel in the night session.
2. Gasoline: Gasoline prices at Shandong refineries increased yesterday, although trading sentiment remained weak.
3. Mixed C5: Trading activity for mixed C5 in the Shandong market was sluggish yesterday.

Core Logic: Overnight crude oil prices plummeted; however, gasoline and Shandong mixed C5 markets saw price increases.

II. Mixed C5 Price Trend Chart

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III. Price Table

Unit: Yuan/ton

Source: Chempricehub

IV. Market Outlook

The significant drop in overnight crude oil prices has dampened market participants' confidence in entering the market. Yesterday, gasoline market prices rose despite weak trading sentiment. Following price hikes, mixed C5 shipments from refineries faced lackluster demand. Chempricehub anticipates that the mixed C5 market will primarily trend downward today.