燃料油：夜盘上浮，短期强势延续，低硫燃料油，持续走强，外盘现货高低硫价差

Report Summary 1) Report Industry Investment Rating - No information provided regarding the industry investment rating. 2) Report Core View - Fuel oil shows a short - term upward trend at night, and its short - term strength continues. Low - sulfur fuel oil keeps strengthening, and the price difference between high - and low - sulfur fuels in the overseas spot market continues to widen [1]. 3) Summary by Related Catalogs a. Fundamental Tracking - Futures Prices and Changes: - FU2509 closed at 2,917 yuan/ton, up 1.67% from the previous day, and its settlement price rose 1.85%. FU2510 closed at 2,921 yuan/ton, up 1.85%, with a 1.50% increase in the settlement price. - LU2509 closed at 3,631 yuan/ton, up 2.48%, and its settlement price rose 1.92%. LU2510 closed at 3,640 yuan/ton, up 1.92%, with a 2.03% increase in the settlement price [1]. - Trading Volume and Open Interest: - The trading volume of FU2509 was 591,508 lots, a decrease of 36,598 lots, and the open interest was 192,439 lots, a decrease of 8,540 lots. - The trading volume of FU2510 was 152,256 lots, an increase of 10,754 lots, and the open interest was 98,171 lots, a decrease of 5,456 lots. - The trading volume of LU2509 was 17,226 lots, a decrease of 2,856 lots, and the open interest was 20,026 lots, a decrease of 4,577 lots. - The trading volume of LU2510 was 130,315 lots, a decrease of 539 lots, and the open interest was 70,350 lots, a decrease of 3,218 lots [1]. - Warehouse Receipts: - The total market warehouse receipts of fuel oil (FU) were 110,980 lots with no change, and those of low - sulfur fuel oil (LU) were 90 lots with no change [1]. - Spot Prices: - For high - sulfur (3.5%S) fuel oil in Singapore MOPS, the price was 404.2 dollars/ton, up 1.49% from the previous day. In Singapore Bunker, it was 417.0 dollars/ton, up 0.97%. - For low - sulfur (0.5%S) fuel oil in Singapore MOPS, the price was 505.2 dollars/ton, up 1.70% from the previous day. In Singapore Bunker, it was 518.0 dollars/ton, up 1.57% [1]. - Price Spreads: - The spread of FU09 - 10 was - 4 yuan/ton, with no change. The spread of LU09 - 10 was - 9 yuan/ton, a change of 4 yuan/ton from the settlement spread. - The spread of LU09 - FU09 was 714 yuan/ton, a change of - 12 yuan/ton from the settlement spread [1]. b. Trend Intensity - The trend intensity of fuel oil is 0, and that of low - sulfur fuel oil is also 0. The trend intensity ranges from - 2 to 2, where - 2 means the most bearish and 2 means the most bullish [1].