Shanghai fuel oil of the hottest suwu futures stil

2022-09-30
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Su Wu Futures: Shanghai fuel oil still has room to rise

[futures market]

on July 9, Shanghai fuel oil fu0809 closed at 5384, down 72 from the settlement price of the previous day, and its position decreased by 1202 to 41654 hands; The settlement price of NYMEX August crude oil futures rose 1 cent, or 0.01%, to $136.05 a barrel, with an intraday trading range of 135 Between 91 dollars

[spot market]

on the spot market, on July 9, huataixing Singapore high sulfur 180CST quoted 5500 yuan/ton, unchanged from the previous day; Zhangjiagang market, home-made harmonic 1 grateful to the heart 80cst warehouse ship offer at yuan/ton, up 20 yuan/ton; Singapore 180C st fuel oil, the current world economic trend, fell $4.90 to $737.90/ton

[message side]

1 The weekly report released by the EIA on Wednesday showed that as of the week of July 4, U.S. commercial crude oil inventories decreased by 5.9 million barrels to 293.9 million barrels; Gasoline inventory increased by only 900000 barrels; Commercial oil inventories decreased by a total of 3.3 million barrels, close to the lowest point of the average level in the same period

2. Russian Deputy Prime Minister Xie Xin said on the 9th that after a slight decline in oil production in the first quarter, the Russian government hopes to promote the increase of oil production by reducing oil taxes

[investment analysis]

the highly expected G8 summit did not substantially solve the problem of oil prices and exchange rates. Mohammad Ali khatibi, an OPEC official in Iran, also said that it was the G8 that led to the sharp rise in global oil prices, such as calling on oil producing countries to increase production while supporting sanctions against Iran, which led to instability in the crude oil market

although the market is now worried about the global economic slowdown, which will lead to crude oil pullback, even if the economic slowdown will only lead to a reduction in the growth rate of crude oil demand, there will be no decline in crude oil demand. Under the background of weak increase in crude oil supply, the medium and long-term supply-demand relationship of crude oil will not be loose. In addition, the current situation in the Middle East has not eased. Earlier, it was reported that Iran had tested missiles and that Turkey had an armed attack on the US consulate

domestically, the price of domestic refined oil increased by an average of 18% last month, and there is still room for adjustment. In the future, the potential adjustment space of domestic refined oil will indirectly support the domestic fuel oil price

on the whole, it is still too early to say that the bull market in crude oil will end. In the later stage, we should pay close attention to the support of the 30 day moving average. At present, China is at the peak of power consumption in summer, and the spot of fuel oil is still strong. When Shanghai touches new energy vehicles, high-end equipment manufacturing, information technology, energy conservation and environmental protection, biomedicine and other industries, fuel bulls can be held cautiously

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