SunSirs: International Oil Prices Fell sharply, China MTBE Market Prices Fell significantly

　　The epidemic situation in many parts of the world rebounded, demand concerns increased, and international oil prices fell sharply. According to the data of business agency, as of August 3, the price of MTBE was 5,650 RMB/ ton, with a month on month decrease of 10.08% and a year-on-year increase of 50.00%.

　　MTBE market continued to decline steadily, with a decline of 50-80 RMB/ ton. The international oil price fell sharply, the market mentality was bad, and the gasoline market fell 30-50 RMB/ ton, and the demand for raw materials market became more and more light.

　　In terms of external market, as of the closing on August 2, the closing price of Asian MTBE market was reduced $7/ ton compared with the previous trading day, and FOB Singapore closed at $772-774/ ton. The closing price of European MTBE market decreased $16.75/ ton compared with the previous trading day, and FOB ara closed at $883.25-883.75/ ton. The closing price of MTBE market in the United States decreased $27.48/ ton compared with the previous trading day, and FOB Gulf FOB closed at $813.48-813.84/ ton (229.15-229.25 cents gallon).

　　The recent trend of crude oil and gasoline is sluggish, the demand is weak, and the sales pressure of MTBE merchants increases. SunSirs MTBE analysts believe that China domestic MTBE market may still decline in the short term.