Ruida Futures(SZ:002961) Jin Tou Wang·2025-08-18 08:08News Summary Core Viewpoint - The fuel oil market is experiencing mixed signals with supply and demand dynamics affecting prices, while geopolitical events continue to influence export levels and inventory changes [1][2]. Market Data - As of August 15, the Shanghai Futures Exchange reported low sulfur fuel oil warehouse futures receipts at 16,080 tons, unchanged from the previous trading day; total fuel oil futures receipts stood at 80,710 tons, also unchanged [1]. - The Singapore Enterprise Development Board (ESG) indicated that fuel oil inventories in Singapore decreased by 1.674 million barrels to 24.645 million barrels, marking a three-week low [1]. - Despite increased drone attacks on Russian refineries, Russia's oil product exports have risen, leading to fuel oil shipments reaching their highest levels since the onset of the conflict [1]. Institutional Perspectives - According to Ruida Futures, the overall supply-demand balance is weak, and cost support is diminishing, leading to limited improvement in the fuel oil market. The main contract for LU saw a price increase of 1.04%, but the cost side remains under pressure, suggesting a weak oscillation in the short term [2]. - Southwest Futures noted signs of improvement in the fuel oil market; however, the oversupply in Singapore continues to exert downward pressure on prices. Their strategy involves trading the high-low sulfur price spread for the main fuel oil contract [2].