Improved Crack Spreads Provide Support for Oil Prices
On November 12, Chuangyuan Futures released a research report indicating that preliminary investigations show that U.S. crude oil inventories are expected to increase, while gasoline and distillate inventories are likely to decline. Before the weekly inventory report is released, five surveyed analytical institutions estimated on average that U.S. crude oil inventories increased by about 1.2 million barrels for the week ending November 7. Asian gasoline refining margins rose to $16.25 per barrel on Tuesday, the highest level since January 2024. This is mainly attributed to several refineries in the region undergoing maintenance shutdowns. Recently, the market has shown some correlation, with rising prices for natural gas and refined products in overseas markets, improving crack spreads, which has provided support for oil prices, allowing them to maintain a volatile trading pattern.
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2025-11-12 15:26:13
Chairman of the China Society of Automotive Engineers, Zhang Jinhua: Solid-State Batteries Expected to Be Used in Small Batches in Vehicles Around 2030
On November 12, the 2025 World Power Battery Conference opened in Yibin, Sichuan. Zhang Jinhua, Chairman of the China Society of Automotive Engineers and Executive Director of the National Innovation Center for Intelligent Connected Vehicles, stated that solid-state batteries will achieve technological breakthroughs and industrial demonstration applications. Solid-state batteries, with their intrinsic safety and ultra-high energy density characteristics, have become a focal area for global efforts. They are currently in a critical stage of overcoming foundational scientific challenges and industrial technological barriers. With major breakthroughs in key technologies such as interface regulation technology, it is expected to drive the realization of solid-state batteries without external pressure. By around 2030, solid-state batteries are anticipated to complete pilot testing and small-scale vehicle application. -
2025-11-12 10:47:50
Global Power Battery Installed Capacity Reaches Approximately 768.3 GWh From January to September, Up 35% Year-On-Year
On November 11, the monthly database of global power battery installations released by GGII (High-Tech Industry Research Institute) showed that from January to September 2025, approximately 14.237 million new energy vehicles were sold globally, marking a year-on-year increase of 26%. The penetration rate of new energy vehicles reached 22.1%, driving the global power battery installation volume to approximately 768.3 GWh, a year-on-year increase of 35%. -
2025-11-12 10:46:38
Cui Dongshu: Significant Impact of National Trade-In Policy, Price Cutting Competition Noticeably Weakens
On November 11, Cui Dongshu from the Passenger Car Association stated that in 2025, promotions and downgrades in the passenger car industry will return to rationality, and the market order has significantly improved. Currently, the price competition mainly involves new cars directly breaking through the original price lower limit, rather than the model of adding features without lowering prices. In October, there were no models that directly reduced prices, while new cars enhancing features at lower prices is a better way to improve cost-effectiveness. The national trade-in policy has had a prominent effect, leading to an increase in market sales, and the phenomenon of internal competition and price reduction has significantly weakened, improving the operational pressure on the industry. -
2025-11-12 10:45:43
China Association of Automobile Manufacturers: New Energy Vehicle Sales in October Exceed 50% of Total Sales for the First Time
On November 11th, the latest data released by the China Association of Automobile Manufacturers showed that from January to October this year, China's automobile production and sales reached 27.692 million units and 27.687 million units respectively, both increasing by over 10% year-on-year. Among these, the production and sales of new energy vehicles reached 13.015 million units and 12.943 million units respectively, with year-on-year growth rates of 33.1% and 32.7%. It is noteworthy that in October, the monthly sales of new energy vehicles surpassed 50% of total automobile new sales for the first time, reaching 51.6%. In terms of exports, from January to October this year, 2.014 million new energy vehicles were exported, representing a year-on-year increase of 90.4%. -
2025-11-12 10:42:02
Improved Crack Spreads Provide Support for Oil Prices
On November 12, Chuangyuan Futures released a research report indicating that preliminary investigations show that U.S. crude oil inventories are expected to increase, while gasoline and distillate inventories are likely to decline. Before the weekly inventory report is released, five surveyed analytical institutions estimated on average that U.S. crude oil inventories increased by about 1.2 million barrels for the week ending November 7. Asian gasoline refining margins rose to $16.25 per barrel on Tuesday, the highest level since January 2024. This is mainly attributed to several refineries in the region undergoing maintenance shutdowns. Recently, the market has shown some correlation, with rising prices for natural gas and refined products in overseas markets, improving crack spreads, which has provided support for oil prices, allowing them to maintain a volatile trading pattern.
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