ResearchIndustry Insights2026-09-20
Base Oil Import Window Narrows to ¥210/ton
Brent down 1.20% to $98.73/bbl, WTI down 1.87% to $95.41/bbl, USD/CNY at 6.6984; import cost relief partially offset by CNY strength, Shanghai HVI150–Singapore spot spread narrows to ¥210/ton — down ¥145 w/w. Refinery maintenance + fuel oil demand diverting distillate cuts HVI supply.