Oil prices plunged on July 5th to their lowest level in nearly three months.
By the end of the day, U.S. CRUDE for August delivery was down $8.93, or 8.24%, at $99.50 / BBL. London Brent crude for September delivery fell $10.73, or 9.45%, to $102.77 a barrel.
The plunge in international oil prices is expected to affect the performance of domestic oil prices next week. According to China Business News, China's refined oil prices are adjusted every 10 working days. If international oil prices continue to fall, domestic oil prices are expected to fall for the third time this year in the next price adjustment window.
The industry believes that the recent fluctuations of international oil prices are on the one hand influenced by the contradiction between supply and demand, the contradiction between the recovery of global oil demand and the limited growth of oil supply; On the other hand, monetary policy and expectations of a global recession have further dampened demand for oil.
In fact, fears that a global recession would cut demand for crude oil are the main driver behind the plunge.
"The economies of the US and Europe are slowing and inflation is high. The central bank's priority to control inflation accelerated the tightening, leading to an intensified economic downturn, which is not conducive to consumption and speculative demand in the oil market." "It should be noted that the pressure on the financial nature of crude oil has increased, and speculative funds will continue to withdraw under the passive tightening of liquidity and active deleveraging of trading portfolios, leading to a sharp pullback in oil futures holdings."
"Crude oil futures in Europe and the US have tumbled amid growing fears of recession and falling energy demand, despite tight supply." Shenyin Wanguo Futures further analyzed in its latest commentary that as the Federal Reserve takes steps to significantly "raise interest rates" or tighten monetary policy to combat domestic inflation, the market's concerns about the US recession are also further intensified.
There have been signs of weakening demand in the oil market recently. Average gasoline demand for the four weeks ended June 24 was down about 2% from a year earlier, according to the U.S. Energy Information Administration.
Factors affecting freight forwarder cif incoterms Freight transportation
In international freight transport, one of the most concerning issues is the price of freight transport. The cost is directly related to the cost of transportation. Because many exporters do not understand the price of transportation very much, and often have a lot of extra spending, then today to understand the factors of the price of international freight transportation? Do You Need Freight Forwarders? China DDP for World is a full-service and shipping forwarder dedicated to assisting our clients in focusing and growing their businesses. Send an Email to firstname.lastname@example.org and get the latest freight price.
The transportation prices are different for different cif incoterms
In the general international trade process, the price of transport according to different modes of transport, price is also different. International freight rates are divided into sea freight, air freight and rail freight.
The specific cif incoterms freight rate can also be subdivided. For example, rail freight can be divided into passenger freight and freight. Shipping rates are also divided into tramp rates and liner rates. Tramp rates are also affected by market supply and demand relations at that time, while liner transport costs are relatively fixed. Airfreight can be divided into general goods, designated goods and special goods, and the specific transportation price is also determined according to the weight of transportation, at the same time, even if the volume is small, the weight is also counted by weight, but if the opposite is large, small weight, also according to the specific volume to calculate.
The choice of international logistics, the quality of logistics will affect the seller's store score, but also affect customer satisfaction rate.
Logistics advantages of the cif incoterms in the destination country and region
In Eastern Europe, DHL has advantages in Romania, Bulgaria, Moldova, Hungary and other places while EMS has advantages in Greece, Russia, Turkey and other places. Western Europe, Northern Europe, southern Europe can use DHL international express, TNT international express, these two kinds of customs clearance capacity. TNT has a clear advantage in the Netherlands and Belgium.
For Canada, the United States and other American countries, FedEx, UPS and DHL are all suitable for their strong customs clearance capacity and fast time.
Applicable to Asia, South Korea, Japan, Thailand and other Southeast Asian countries DHL, FedEx. DHL and FedEx are time-saving, but THE price of DHL is higher. Indonesia also suggests USING DHL because it has a stronger customs clearance capacity.
In Oceania, DHL and UPS aging fast, with high prices; TNT and FedEx have lower prices but relatively few outlets. Particular attention should be paid to the "Made in China" label on the packaging of Australian products.
Middle East express ARAMEX, EMS for Middle East region. Commercial express in Africa is very expensive. In remote areas, IT is suggested to send EMS international express. EMS countries have the strongest customs clearance capacity. The air express cif incoterms can reach many countries and regions that commercial express and postal express cannot reach, so the wide range of cif incoterms transportation is its advantage.
Factors affecting the shipping price of cif incoterms
In the process of international transportation, there are many factors affecting the price of transportation, in addition to some fuel and labor costs, there are many important factors. For example, the nature of the cif incoterms, its own value and packaging form, as well as stowage factor and transporter's requirements for transportation, etc. There will be some fixed costs during the use of the ship, such as the ship's maintenance insurance and fuel consumption. There is also the change of supply and demand in the cif incoterms market. In the transport off-season, transport prices are relatively low, in the transport of the peak season, transport prices will be relatively high.
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