News on China Chemical Industry News (CCIN), On February 18, influenced by the rapid rise of international oil prices and other multiple factors, oil stocks of China's stock market were on a roll from the beginning of the ox year, domestic energy commodity futures showed a strong performance, and the chemical market also rose significantly after the holiday.

In the capital market, Sinopec rose by 7.43% and PetroChina gained by 4.29% as of the close of the Shanghai and Shenzhen stock exchanges on Wednesday. At the same time, "three barrels of oil" in Hong Kong stock market also rose a lot in the year of the ox opened for two days in a row. As of Feb.17's close, CNOOC was up by 14.47% in totol, Sinopec rose by 13.91% and PetroChina by 13.17%, which also led to a strong increase of other oil and petrochemical stocks.

It is understood that on February 18, the price of Brent crude oil exceeded $65 per barrel in Asian trading session, and it became the first time since January 2020. Up to now, Brent crude futures are up by 1.59%, quoted at $65.32 a barrel.

The incease of raw oil prices undoubtedly played an important role for cost on the industry chain products. On February 18, domestic commodity futures rose largely, Energy products showed a strong performance, crude oil was up by more than 7%, and styrene was up by 11% by the daily limit. Crude oil, ethylene glycol, fuel oil, and plastic futures surged, and main contracts of ethylene glycol also reported up by 8.35%.

The chemical market also made a good start after the holiday. Quoted prices went straight up. On February 18th, Wanhua Chemical's quotation increased. The price of propylene rose by 200 yuan, up to 7,500 yuan per ton; Propane epoxide rose by 500 yuan/ton, up to 17,700 yuan/ton.

In addition, the market price of n-butanol increased by 1500 yuan/ton, the price of methyl acrylate in North China and East China increased by 700 yuan/ton, and neopentylene glycol's quoted price was raised by 500 yuan/ton.