Group 1 - The low-sulfur fuel oil futures market is showing a strong upward trend, with the main contract opening at 3504.00 CNY/ton and reaching a high of 3563.00 CNY, reflecting a 2.28% increase [1] - New Singapore low-sulfur fuel oil arrivals were sufficient in August, primarily contributed by Indonesia and Nigeria, which is expected to provide marginal benefits as European volumes decline due to reduced East-West arbitrage [1] - Geopolitical risks have sparked market enthusiasm, leading to an upward movement in fuel oil prices, while the overall market fundamentals are showing slight improvement [1] Group 2 - As of the end of July, Singapore's marine fuel sales decreased by 1.7% year-on-year, and China's bonded marine fuel demand also fell by 1%, while domestic refinery production of marine fuel was down by 19% year-on-year [2] - Both Singapore and Fujairah's land fuel oil inventories have increased month-on-month, indicating a lack of bullish support for low-sulfur fuel oil prices [2] - The geopolitical premium is supporting the FU market, making it relatively stronger compared to low-sulfur fuel oil [2]
基本面边际转好 低硫燃料油期货将高位震荡运行
Jin Tou Wang·2025-09-02 06:03