申万期货原油甲醇策略日报-20250826

Report Industry Investment Rating - Not provided in the given content Core Viewpoints - For crude oil, sc night session rose 1.16%. A fire occurred at Russia's new Shakhtinsk refinery after a Ukrainian drone attack, and it has been burning for four days. The OPEC+ voluntary production - cut eight - nation group will hold a meeting on September 7 and may approve further production increases. After Fed Chair Jerome Powell hinted at a possible rate cut in the September meeting, investors' risk appetite increased. Follow - up attention should be paid to OPEC's production increase [3]. - For methanol, the night session was in a sideways consolidation. Imported cargoes concentrated on unloading at ports, especially in South China, leading to a significant accumulation of coastal methanol inventories. As of August 21, coastal methanol inventories reached 124.85 tons, up 10.8 tons from August 14, a 9.47% increase and a 28.29% year - on - year increase. The short - term trend of methanol is mainly bullish [3]. Summary by Related Content Futures Market Crude Oil - Price Changes: SC near - month decreased by 0.29% to 485.6 yuan/barrel, SC next - month decreased by 0.14% to 492.9 yuan/barrel. WTI near - month rose 0.46% to 63.77 dollars/barrel, WTI next - month rose 0.43% to 63.34 dollars/barrel. Brent near - month rose 1.40% to 68.74 dollars/barrel, Brent next - month rose 1.40% to 68.20 dollars/barrel [2]. - Volume and Open Interest: SC near - month trading volume was 1,185, open interest was 4,061 with a decrease of 1,115. SC next - month trading volume was 102,824, open interest was 37,424 with an increase of 102 [2]. - Spreads: The current spread of SC near - month - SC next - month was - 7.3 yuan/barrel, compared with - 6.6 yuan/barrel previously [2]. Methanol - Price Changes: Methanol 01 contract rose 0.79% to 2424 yuan, 05 contract rose 0.76% to 2402 yuan, 09 contract rose 0.61% to 2308 yuan [2]. - Volume and Open Interest: 01 contract trading volume was 459,712, open interest was 675,269 with a decrease of 22,877. 05 contract trading volume was 14,401, open interest was 79,575 with an increase of 2,919 [2]. Spot Market Crude Oil - International Market: OPEC basket price rose from 70.01 dollars to 70.26 dollars, Brent DTD rose from 68.29 dollars to 68.48 dollars, etc. [2]. - Domestic Market: Daqing crude oil price rose from 64.46 dollars to 64.99 dollars, Shengli crude oil price rose from 65.09 dollars to 65.51 dollars [2]. Methanol - Port Spot: The port price in US dollars remained at 263, the East China price rose from 2317.5 yuan to 2322.5 yuan, the North China price remained at 2190 yuan, and the South China price rose from 2287 yuan to 2295 yuan [2].