Core Insights - International oil prices increased on the 13th of the month, with significant gains in both New York and London markets [1] Group 1: Price Movements - As of the close on the 13th, light crude oil futures for November delivery on the New York Mercantile Exchange rose by 59 cents, settling at $59.49 per barrel, representing a 1.0% increase [1] - December delivery Brent crude oil futures on the London market also saw a rise of 59 cents, closing at $63.32 per barrel, which is a 0.94% increase [1]

Group 1 - The upcoming economic data releases this week are prioritized in importance as follows: the Federal Reserve's Beige Book, a speech by Fed Chair Jerome Powell, and the OPEC and IEA oil reports [1] - The Federal Reserve will release its seventh Beige Book of the year on Thursday at 2:00 AM, which will provide insights into employment and inflation changes across the 12 Federal Reserve districts from September 3 to the present [3] - The non-farm payroll report for September indicated an addition of 50,000 jobs, which, while higher than the previous value of 22,000, remains at a historically low level, suggesting a potentially pessimistic outlook in the Beige Book regarding the job market [3] Group 2 - Jerome Powell is scheduled to speak on Tuesday at 11:30 PM, focusing on macroeconomic outlook and Fed monetary policy, with expectations that his remarks may lean dovish due to the poor performance of key economic data [5] - The OPEC monthly oil market report will be released on Monday, followed by the IEA report on Tuesday, both of which are expected to impact international oil prices significantly [7] - Recent fluctuations in U.S. crude oil prices, which fell from $61.65 to a low of $58.36, may continue if OPEC mentions production increases or if the IEA highlights global economic recession concerns in their reports [7]

Core Viewpoint - The domestic refined oil prices in China are set to decrease due to a shift in international oil prices from rising to falling, with gasoline and diesel prices per ton reduced by 75 yuan and 70 yuan respectively [2][3]. Price Adjustments - The recent price adjustment will lower the cost for consumers, with a decrease of approximately 0.06 yuan per liter for 92 and 95 octane gasoline and 0.06 yuan for 0 diesel [2]. - For a typical private car with a 50-liter fuel tank, filling up will cost about 3 yuan less, while for large logistics vehicles carrying 50 tons, the fuel cost per 100 kilometers will decrease by 2.4 yuan [2]. Market Trends - In 2023, there have been 20 rounds of domestic refined oil price adjustments, resulting in a pattern of six increases, eight decreases, and six stasis periods, leading to an overall decline of 480 yuan per ton for gasoline and 460 yuan per ton for diesel compared to the end of 2024 [3]. - The current gasoline and diesel prices are approximately 0.1 yuan lower per liter compared to the same period in 2024, with no price increases in over three months since the last adjustment on July 1 [3]. International Oil Price Dynamics - The international oil market has shown a weak trend due to concerns over macroeconomic conditions and fossil fuel demand, with recent fluctuations influenced by geopolitical events and trade tensions [3]. - The price of WTI crude oil fell below 60 USD, with a decline exceeding 5% on October 10, driven by reduced risk premiums and concerns over international trade [3]. Future Outlook - The next price adjustment window will open on October 27, with expectations of further price reductions due to OPEC+ starting a new round of production increases and ongoing concerns about supply surplus amid a weak global economic outlook [4].

Core Viewpoint - Domestic gasoline and diesel prices in China will be reduced due to the decline in international oil prices, effective from October 13 at 24:00 [1][3]. Price Adjustment Summary - From October 13, gasoline and diesel prices will be lowered by 70 yuan and 75 yuan per ton, respectively, translating to a decrease of 0.06 yuan per liter for 92-octane gasoline, 95-octane gasoline, and 0-octane diesel on average nationwide [1]. - Filling a 50-liter tank with 92-octane gasoline will cost 3 yuan less after the price adjustment [1]. International Oil Price Trends - The international oil price has shown a downward trend during the adjustment cycle (September 23 - October 11), influenced by factors such as Iraq's resumption of oil exports, U.S. government shutdown, geopolitical conflicts, and China-U.S. trade tensions [3]. - Conversely, the drone attacks in Ukraine have led to reduced supplies from Russia, and the planned production increase by "OPEC+" in November is lower than expected, providing some support for oil prices [3]. - The National Development and Reform Commission's price monitoring center anticipates a continued weak and fluctuating trend in international oil prices, with geopolitical developments potentially amplifying price volatility [3].

1. Report Industry Investment Rating - Not provided in the given content 2. Core Viewpoints of the Report - The trading logic of the soybean meal market is about to change, and it may stop falling and rebound in the short - term, with the domestic price stronger than the international price. The palm oil futures price faces volatility risks in the short - term [5][7] 3. Summary by Variety Soybean Meal (M) - **Price Trend**: Short - term: oscillating; Medium - term: oscillating; Intraday: strong; Reference view: strong [5][6] - **Core Logic**: The domestic supply pressure has not been resolved, but soybean prices are near the cost line, oil mills are suffering continuous losses in crushing and have a stronger intention to support prices, and the negative basis of soybean meal is being repaired. Sino - US trade friction has escalated again, raising supply concerns. The suspension of the USDA report weakens the influence of US soybean futures on the domestic market [5] Palm Oil (P) - **Price Trend**: Short - term: oscillating; Medium - term: oscillating; Intraday: weak; Reference view: weak [6][7] - **Core Logic**: After the unexpectedly bearish impact of the Malaysian palm oil report is released, the futures prices of palm oil at home and abroad have dropped rapidly. The weakening of international oil prices also casts a shadow over the demand for palm oil biodiesel. Unfavorable factors in the industrial chain, unstable trade relations, and weak international oil prices drag down the performance of palm oil futures prices [7] Soybean Oil (Y) - **Price Trend**: Short - term: oscillating; Medium - term: oscillating; Intraday: oscillating weakly; Reference view: oscillating weakly [6] - **Core Logic**: Influenced by Sino - US relations, US biofuel policy, US soybean oil inventory, domestic soybean cost support, supply rhythm, and oil mill inventory [6]

新华财经开罗10月11日电（张健左元） 10日，美国总统特朗普的言论令市场情绪恶化，全球股市、商 品大面积下跌。自9月底就已经开启跌势的原油弱势尤为明显，美原油12月合约收盘跌超5%，报收于 57.84美元／桶，创下数月来最大单日跌幅，也是6月份以来首次跌破60美元关口。 欧佩克+增产不及预期 随着欧佩克+的持续增产以及消费旺季基本结束，9月底开始国际油价震荡下行，国庆假期期间（10月2 日）美原油一度逼近60美元关口。不过，10月5日欧佩克+发布公告，欧佩克+八个产油国将在11月进一 步增产13.7万桶／日。而此前市场传闻，为争夺更多市场份额，该组织可能会继续大幅增产41.1万桶／ 日。增产幅度不及预期令原油价格止跌反弹。 实际上，尽管欧佩克+4月份以来不断上调产量目标，但实际增产速度却不及预期。根据路透社对欧佩 克+数据的分析，在4月至8月期间，欧佩克+仅完成了其增产计划的75%，比这段时期192万桶／日的增 产目标少了近50万桶／日。欧佩克+还计划在9月增产54.7万桶／日，在10月再增产13.7万桶／日。尽管 这些月份的数据尚未公布，但分析师们预计，实际增产幅度可能只会达到目标的一半。 巴勒斯坦伊斯兰 ...

Core Viewpoint - International oil prices experienced a significant decline on October 10, with both WTI and Brent crude oil futures dropping notably [1] Group 1: Price Movements - As of the close on October 10, the price of light crude oil futures for November delivery on the New York Mercantile Exchange fell by $2.61, settling at $58.90 per barrel, representing a decrease of 4.24% [1] - The price of Brent crude oil futures for December delivery decreased by $2.49, closing at $62.73 per barrel, which is a decline of 3.82% [1]

Core Insights - International oil prices continue to decline, with WTI crude oil dropping by 3% to $59.209 per barrel and Brent crude oil falling by 2.85% to $63.360 per barrel, marking the lowest levels since June 2 [1] Price Movements - WTI crude oil price decreased by 3% [1] - Brent crude oil price decreased by 2.85% [1] - Both prices reached new lows since June 2 [1]

Group 1 - Brent crude oil and WTI crude oil prices have both fallen over 2% [1] - As of the latest reports, WTI crude oil is down 3% at $59.21 per barrel, while Brent crude oil is down 2.85% at $63.36 per barrel, marking the lowest levels since June 2 [1] - The decline in international oil prices has been significant, with WTI crude oil dropping 2% to $60.28 per barrel and Brent crude oil decreasing by 1.96% to $63.94 per barrel [2]

Core Insights - WTI crude oil decreased by 2%, settling at $60.28 per barrel [1] - Brent crude oil fell by 1.96%, closing at $63.94 per barrel [1] Price Movements - WTI crude oil price change: down 2% to $60.28/bbl [1] - Brent crude oil price change: down 1.96% to $63.94/bbl [1]