Report Summary 1. Report Industry Investment Rating No information provided. 2. Core Viewpoints - During the holiday, the high - sulfur cracking in Singapore strengthened, the monthly spread strengthened, the EW strengthened, and the basis weakened. The low - sulfur cracking strengthened, the basis strengthened, and the high - low sulfur price spread showed a volatile trend [3]. 3. Summary by Relevant Data Rotterdam Fuel Oil Data | Product | Initial Value (2025/04/25) | Final Value (2025/04/30) | Change | | --- | --- | --- | --- | | Rotterdam 3.5% HSF O Swap M1 | 409.51 | 394.65 | -14.03 [1] | | Rotterdam 0.5% VLS FO Swap M1 | 441.52 | 422.85 | -18.67 [1] | | Rotterdam HSFO - Brent M1 | -1.11 | -0.52 | 0.59 [1] | | Rotterdam 10ppm Gasoil Swap M1 | 603.68 | 580.80 | -22.88 [1] | | Rotterdam VLSFO - Gasoil M1 | -162.16 | -157.95 | 4.21 [1] | | LGO - Brent M1 | 16.49 | 18.60 | 2.11 [1] | | Rotterdam VLSFO - HSFO M1 | 32.01 | 28.20 | -3.81 [1] | Singapore Fuel Oil Futures Data | Product | Initial Value (2025/04/25) | Final Value (2025/05/06) | Change | | --- | --- | --- | --- | | Singapore 380cst M1 | 425.73 | 395.23 | -30.5 [1] | | Singapore 180cst M1 | 439.85 | 406.48 | -33.37 [1] | | Singapore VLSFO M1 | 482.08 | 461.63 | -20.45 [1] | | Singapore Gasoil M1 | 81.74 | 76.55 | -5.19 [1] | | Singapore 380cst - Brent M1 | 1.36 | 1.19 | -0.17 [1] | | Singapore VLSFO - Gasoil M1 | -122.80 | -104.84 | 17.96 [1] | Singapore Fuel Oil Spot Data | Product | Initial Value (2025/04/25) | Final Value (2025/05/06) | Change | | --- | --- | --- | --- | | FOB 380cst | 426.37 | 395.61 | -30.76 [2] | | FOB VLSFO | 487.09 | 473.66 | -13.43 [2] | | 380 Basis | 2.15 | -1.80 | -3.95 [2] | | High - Sulfur Domestic - Foreign Spread | 9.3 | 10.0 | 0.7 [2] | | Low - Sulfur Domestic - Foreign Spread | 4.0 | 6.8 | 2.8 [2] | Domestic FU Data | Product | Initial Value (2025/04/25) | Final Value (2025/05/06) | Change | | --- | --- | --- | --- | | FU 01 | 2745 | 2572 | -173 [2] | | FU 05 | 3051 | 2555 | -496 [2] | | FU 09 | 2878 | 2696 | -182 [2] | | FU 01 - 05 | -306 | 17 | 323 [2] | | FU 05 - 09 | 173 | -141 | -314 [2] | | FU 09 - 01 | 133 | 124 | -9 [2] | Domestic LU Data | Product | Initial Value (2025/04/25) | Final Value (2025/05/06) | Change | | --- | --- | --- | --- | | LU 01 | 3374 | 3218 | -156 [3] | | LU 05 | 3663 | 3247 | -416 [3] | | LU 09 | 3409 | 3268 | -141 [3] | | LU 01 - 05 | -289 | -29 | 260 [3] | | LU 05 - 09 | 254 | -21 | -275 [3] | | LU 09 - 01 | 35 | 50 | 15 [3] |
燃料油早报-20250507
Yong An Qi Huo·2025-05-07 14:25