Oil Market - Oil prices saw a significant increase, with WTI March contract closing at $65.14 per barrel, up $1.93 (3.05%) [2][14] - Brent April contract closed at $69.46 per barrel, up $2.13 (3.16%) [2][14] - EIA reported a decrease in U.S. crude oil inventory by 3.5 million barrels to 420.3 million barrels, the lowest level since November 2024 [2][16] Fuel Oil - The main contract for fuel oil FU2603 rose by 3.98% to 2797 yuan/ton, while low-sulfur fuel oil LU2604 increased by 3.39% to 3268 yuan/ton [3][17] - China's refining capacity utilization rate for reduced pressure was 68.05%, a slight increase of 0.01 percentage points from the previous week [3][17] Asphalt - The main asphalt contract BU2603 increased by 1.69% to 3361 yuan/ton [5][18] - Social inventory rate for asphalt rose to 25.43%, up 0.64% week-on-week [5][18] Rubber - Shanghai rubber main contract RU2605 rose by 205 yuan/ton to 16385 yuan/ton [6][19] - Natural rubber social inventory in China increased by 0.9 million tons to 128.1 million tons, a 0.7% increase [6][19] PX, PTA, and MEG - TA605 closed at 5218 yuan/ton, up 1.32%, while EG2605 closed at 3788 yuan/ton, up 0.56% [7][20] - PX futures closed at 7296 yuan/ton, up 1.25% [7][20] Methanol - Domestic methanol prices showed a mixed trend, with Taicang spot price at 2238 yuan/ton and Inner Mongolia at 1797.5 yuan/ton [8][21] - Supply is expected to decrease slightly in February, while demand may decline due to MTO unit repairs [8][21] Polyolefins - Mainstream prices for East China polypropylene (PP) ranged from 6550 to 6750 yuan/ton, with various production margins reported [9][22] - The market is expected to see an increase in inventory as the holiday approaches [9][22] PVC - PVC prices in East China showed a strong adjustment, with prices for calcium carbide method ranging from 4820 to 4900 yuan/ton [10][23] - The market is facing weak demand from the real estate sector, which may limit support for PVC downstream products [10][23] Urea - Urea futures closed at 1787 yuan/ton, up 0.56% day-on-day, with stable prices in the spot market [11][24] - Daily production of urea was reported at 21.03 million tons, with a slight increase expected due to the resumption of gas-based production [11][24] Soda Ash - Soda ash futures closed at 1229 yuan/ton, up 2.08%, with stable prices in the spot market [12][26] - The industry operating rate was reported at 82.37%, a decrease of 1.43 percentage points [12][26] Glass - Glass futures closed at 1109 yuan/ton, up 3.36%, with stable prices in the spot market [13][27] - Concerns about supply fluctuations are present as multiple production lines are planned for resumption [13][27]

热点栏目 自选股 数据中心 行情中心 资金流向 模拟交易 客户端 沥青： （杜冰沁，从业资格号：F3043760；交易咨询资格号：Z0015786） 周二，上期所沥青主力合约BU2603收跌1.72%，报3309元/吨。昨日BU受到油价影响继续下跌，跌幅有 所收窄。进入2月中上旬，北方地区多为下游备货为主，多数炼厂低产，库存水平低位，南方地区部分 套利需求尚可，进入春节期间，终端及交通运输停滞，整体炼厂库存水平呈上升趋势，同时社库的压力 也会进一步加大。近期沥青相对成本端原油波动较小，裂解价差有一定修复，基差方面，受到弱需求现 实的限制，各地区基差有明显走弱。从1-2月的燃料油进口来看，炼厂在积极寻找替代原料，但考虑到 经济性和沥青出率，不排除后续炼厂排产或有一定调整。近期BU受到成本端原油扰动较大，关注油价 波动和后续原料进口。 橡胶： （邸艺琳，从业资格号：F03107645；交易咨询资格号：Z0021445） 原油： （钟美燕，从业资格号：F3045334；交易咨询资格号：Z0002410） 周二油价重心上移，其中WTI 3月合约收盘上涨1.07美元至63.21美元/桶，涨幅1.72%。布伦特4月合约收 ...

1. Report Industry Investment Rating - No relevant information provided 2. Core View of the Report - The prices of various energy and chemical products generally declined on Monday due to factors such as geopolitical events and cost - side impacts. Most products are expected to be in an oscillatory state. For example, crude oil prices dropped significantly due to the potential nuclear negotiations between Iran and the US and the decision of OPEC+ to maintain production. Other products like fuel oil, asphalt, polyester, rubber, etc., were also affected by factors such as supply - demand relationships and cost fluctuations [1][2][4] 3. Summary by Directory 3.1 Research Views - **Crude Oil**: On Monday, WTI 3 - month contract closed down $3.07 to $62.14 per barrel, a 4.71% decline; Brent new 4 - month contract closed down $3.02 to $66.3 per barrel, a 4.36% decline; SC2603 closed at 450 yuan/barrel, down 22.7 yuan/barrel, a 4.8% decline. Iran may hold high - level talks with the US in the coming days. OPEC+ decided to maintain March crude oil production. Brazil's 2025 oil production reached a record 3.77 million barrels per day, up 12.3% from the previous year. The price is expected to oscillate [1] - **Fuel Oil**: On Monday, the main contract of fuel oil (FU2603) fell 7.01% to 2,679 yuan/ton; the main contract of low - sulfur fuel oil (LU2604) fell 5.92% to 3,128 yuan/ton. The supply of both high - sulfur and low - sulfur fuel oil is expected to be sufficient. The demand for marine fuel oil is expected to increase before the Spring Festival. The price is expected to oscillate [2] - **Asphalt**: On Monday, the main contract of asphalt (BU2603) fell 4.879% to 3,299 yuan/ton. In the first half of February, the inventory in the north is at a low level, while in the south, the inventory is expected to rise during the Spring Festival. The price is expected to oscillate [2] - **Polyester**: TA605 closed at 5,092 yuan/ton, down 3.38%; EG2605 closed at 3,767 yuan/ton, down 3.73%. Some PTA and polyester devices have changes in operation. The price of polyester raw materials is expected to oscillate following the cost [4] - **Rubber**: On Monday, the main contract of Shanghai rubber (RU2605) fell 380 yuan/ton to 15,980 yuan/ton. The inventory of natural rubber in Qingdao increased. The price is expected to be weakly oscillatory [4][6] - **Methanol**: On Monday, the spot price in Taicang was 2,230 yuan/ton. The domestic production in February is expected to decrease slightly, and the import volume will decline from a high level. The demand from MTO devices is expected to decline. The price is expected to maintain a low - level wide - range oscillation [6] - **Polyolefin**: The price of polyolefin products shows a loss in profit. The supply in February is expected to increase slightly, and the demand will enter a holiday period, with inventory passively increasing. The price is expected to oscillate at the bottom [6][8] - **Polyvinyl Chloride (PVC)**: The market price of PVC in East, North, and South China increased. The supply in February will remain high, and the demand is expected to weaken. The price is expected to maintain a bottom - level oscillation [8] 3.2 Daily Data Monitoring - The report provides the spot price, futures price, basis, basis rate, and their changes for various energy and chemical products such as crude oil, liquefied petroleum gas, asphalt, etc. on February 2, 2026, compared with January 30 [9] 3.3 Market News - Iran and the US will restart nuclear negotiations on Friday. OPEC+ decided to maintain March crude oil production. A preliminary survey shows that US crude oil and distillate inventories are expected to decline last week, while futures inventories may increase [11] 3.4 Chart Analysis - **4.1 Main Contract Price**: The report presents the closing price charts of main contracts of various energy and chemical products from 2022 to 2026, including crude oil, fuel oil, low - sulfur fuel oil, etc. [13][15][17] - **4.2 Main Contract Basis**: It shows the basis charts of main contracts of various products such as crude oil, fuel oil, low - sulfur fuel oil, etc. [30][32][36] - **4.3 Inter - period Contract Spread**: The report provides the spread charts of different contracts of various products, such as fuel oil, asphalt, PTA, etc. [43][45][48] - **4.4 Inter - variety Spread**: It presents the spread and ratio charts between different varieties, such as crude oil internal - external spread, fuel oil high - low sulfur spread, etc. [59][61][63] - **4.5 Production Profit**: The report shows the production profit charts of products like LLDPE, PP, PTA, etc. [68][70] 3.5 Team Member Introduction - The research team members include the deputy director of the research institute, the energy - chemical research director, and analysts for different product categories, each with rich experience and professional titles [73][74][75]