CIF price of imported bonded jet fuel fell 6.0% month-on-month in October

According to the CIF price index of China's imported aviation kerosene released by the Xinhua News Agency oil price system on the 24th, the CIF price of China's imported bonded aviation kerosene in October was 6,894 yuan per ton, down 442 yuan per ton from September, down 6.
0% month-on-month, and falling
for the third consecutive month.

Chart: CIF price trend of China's imports of bonded jet fuel from October 2021 to October 2022

Source: China Natural Gas Information Terminal (E-Gas System)

In September, the European and American central banks both raised interest rates sharply, the market fears of economic recession and weakening oil demand increased, international oil prices fell, the average price of the main contract of Brent crude oil futures fell by 7.
3% month-on-month, and the average price of Asian aviation kerosene fell by 8.
6% month-on-month, driving the CIF price of China's imported bonded aviation kerosene in October to fall further, and the exchange rate change narrowed the decline in the CIF price of China's imported bonded aviation kerosene denominated in RMB
.

In October, OPEC+ announced that it would launch a production cut plan of 2 million barrels per day in November, supported by the expectation of tightening supply, international oil prices stopped the trend of continuous weakening in previous months, crude oil futures and jet fuel prices rebounded slightly, and it is expected that the CIF price of China's imported bonded aviation kerosene in November may resume its upward trend
.

China's imported aviation kerosene CIF price index is one of the series of oil data products independently developed by Xinhua News Agency's oil price system, which is the result
of data collection using Xinhua News Agency's domestic information collection network and combined with the investigation of relevant experts.
The index is released
through the Xinhua News Agency's oil price system in mid-to-late months.
(Dong Shishan)