New low wax price of crude oil sticks

Oil markets: NYMEX crude oil prices fell below US$72 per barrel on the 24th, reaching a two-month low, as bleak housing data further suggested that economic growth was slowing and gasoline consumption continued to be weak.

NYMEX October light and low * crude oil ** settlement price fell 1.47 US dollars to 71.63 US dollars a barrel, a decrease of 2.01%, for the price of the previous month contract on June 7 closed at 71.44 US dollars the lowest close. The intraday trading range was $71.45-73.05, the former being the lowest since July 7. The settlement price of ICE ** Brent crude oil ** fell 1.24 US dollars or 1.7% to US$72.38.

Wax Market: The oil price has reached a new low, and the domestic paraffin market is not staggering and continues to stick. The production in the North has been reduced. Some manufacturers in the south are highly modelled and their stocks are around 1,000 tons. In a stable market, traders are more sensitive and their views on the market are gradually changing.

The short-term production enterprises still maintain their momentum, demand in some areas remains to be warmed up, prices continue to rise in large areas and lack of support, and the overall market has maintained a dull transition.