Core Viewpoint - The domestic futures market for crude oil and related products experienced a decline on December 9, with significant drops in prices across various contracts, indicating a bearish trend in the market. Group 1: Price Movements - As of December 9, the main crude oil futures contract fell by 2.32% to 445.80 CNY per barrel [1] - The main fuel oil futures contract decreased by 2.67% to 2410.00 CNY per ton [1] - The low-sulfur fuel oil futures contract dropped by 2.09% to 3002.00 CNY per ton [1] - The liquefied petroleum gas (LPG) futures contract declined by 1.02% to 4261.00 CNY per ton [1] Group 2: Futures Price Data - The opening price for SC crude oil was 451.60 CNY, with a previous close of 457.60 CNY and a last settlement price of 456.40 CNY [2] - The fuel oil opened at 2470.00 CNY, with a previous close of 2508.00 CNY and a last settlement price of 2476.00 CNY [2] - The asphalt futures opened at 2940.00 CNY, with a previous close of 2959.00 CNY and a last settlement price of 2955.00 CNY [2] - The LPG opened at 4283.00 CNY, with a previous close of 4291.00 CNY and a last settlement price of 4305.00 CNY [2] - The low-sulfur fuel oil opened at 3035.00 CNY, with a previous close of 3089.00 CNY and a last settlement price of 3066.00 CNY [2] Group 3: Inventory Data - As of December 8, the inventory data showed that the futures warehouse receipts for asphalt remained unchanged at 1370 tons, while the warehouse receipts for asphalt decreased by 2000 tons to 2690 tons [3] - The futures warehouse receipts for fuel oil remained at 26090 tons [3] - The low-sulfur fuel oil warehouse receipts remained unchanged at 370 tons [3] - The medium-sulfur crude oil futures warehouse receipts were stable at 3,464,000 barrels [3] - The LPG futures warehouse receipts remained at 4194 lots [3] Group 4: Basis Data - The basis data indicated a phenomenon of "backwardation" for fuel oil, LPG, and low-sulfur fuel oil, where spot prices exceeded futures prices [3] - The basis for fuel oil was 2861 CNY with a basis rate of 53.60% [3] - The basis for asphalt was -11 CNY with a basis rate of -0.37% [3] - The basis for LPG was 298 CNY with a basis rate of 6.58% [3] - The basis for low-sulfur fuel oil was 26 CNY with a basis rate of 0.82% [3]

Core Viewpoint - On August 15, the domestic futures market for crude oil-related products showed significant gains, with liquefied petroleum gas leading the increase by over 1% [1] Group 1: Price Movements - As of August 15, the main crude oil futures rose by 0.91% to 488.00 CNY per barrel [1] - The main low-sulfur fuel oil futures increased by 0.06% to 3453.00 CNY per ton [1] - The main asphalt futures decreased by 0.40% to 3464.00 CNY per ton [1] - The main liquefied petroleum gas futures rose by 1.28% to 3881.00 CNY per ton [1] Group 2: Futures Price Data - The opening price for SC crude oil was 482.60 CNY, with a previous close of 481.90 CNY and a last settlement price of 483.60 CNY [2] - The opening price for fuel oil was 2708.00 CNY, with a previous close of 2700.00 CNY and a last settlement price of 2708.00 CNY [2] - The opening price for asphalt was 3485.00 CNY, with a previous close of 3472.00 CNY and a last settlement price of 3478.00 CNY [2] - The opening price for liquefied petroleum gas was 3859.00 CNY, with a previous close of 3858.00 CNY and a last settlement price of 3832.00 CNY [2] - The opening price for low-sulfur fuel oil was 3452.00 CNY, with a previous close of 3449.00 CNY and a last settlement price of 3451.00 CNY [2] Group 3: Warehouse Data - As of August 14, the warehouse data showed that the medium-sulfur crude oil futures warehouse stock was 4,767,000 barrels, unchanged from the previous trading day [3] - The fuel oil futures warehouse stock decreased by 12,000 tons to 80,710 tons compared to the previous trading day [3] - The asphalt futures warehouse stock remained unchanged at 41,710 tons, while the asphalt warehouse stock decreased by 200 tons to 31,840 tons [3] - The liquefied petroleum gas futures warehouse stock decreased by 5 contracts to 12,948 contracts compared to the previous trading day [3] - The low-sulfur fuel oil warehouse stock decreased by 4,970 tons to 16,080 tons compared to the previous trading day [3] Group 4: Basis Data - As of August 14, the basis data indicated a 'backwardation' phenomenon for fuel oil, asphalt, liquefied petroleum gas, and low-sulfur fuel oil, where spot prices exceeded futures prices [3] - The basis for fuel oil was 2,629 CNY, with a basis rate of 49.26% [3] - The basis for asphalt was 192 CNY, with a basis rate of 5.23% [3] - The basis for liquefied petroleum gas was 388 CNY, with a basis rate of 8.29% [3] - The basis for low-sulfur fuel oil was 117 CNY, with a basis rate of 3.27% [3]

Core Viewpoint - The domestic futures market for oil-related products experienced a decline, with liquefied petroleum gas and crude oil dropping over 1% on July 16, 2023 [1]. Group 1: Price Movements - As of July 16, liquefied petroleum gas futures fell by 1.37% to 4103.00 CNY/ton, while crude oil futures decreased by 1.28% to 515.50 CNY/barrel [1]. - Fuel oil futures saw a slight increase of 0.28%, reaching 2875.00 CNY/ton, whereas asphalt futures dropped by 0.22% to 3623.00 CNY/ton [1]. - The opening and closing prices for various contracts on July 16 were reported, with SC crude oil opening at 520.20 CNY and closing at 522.20 CNY [2]. Group 2: Inventory Data - As of July 15, the inventory data showed that the number of medium-sulfur crude oil futures contracts remained stable at 4,517,000 barrels, with no change from the previous trading day [3]. - Fuel oil futures inventory was reported at 91,640 tons, and asphalt futures inventory was stable at 39,350 tons in factory warehouses and 42,950 tons in storage [3]. - Liquefied petroleum gas futures inventory stood at 8,304 contracts, while low-sulfur fuel oil inventory was at 90 tons, both unchanged from the previous day [3]. Group 3: Basis Data - The basis data indicated a phenomenon of "backwardation" for fuel oil, asphalt, liquefied petroleum gas, and low-sulfur fuel oil, where spot prices exceeded futures prices [3]. - The basis and basis rates for various commodities were detailed, with fuel oil showing a basis of 2,520 CNY and a basis rate of 46.77% [3].

Group 1 - The core viewpoint of the news is that domestic crude oil futures experienced a significant increase, with the main crude oil contract rising over 5% on June 16 [1] - As of June 16, the main crude oil contract rose by 5.68%, reaching 542.90 yuan per barrel, while fuel oil and liquefied petroleum gas also saw notable increases [1][2] - The price movements in the futures market indicate a bullish trend across various oil-related contracts, including fuel oil and low-sulfur fuel oil [1][2] Group 2 - On June 13, commodity warehouse data showed that the inventory of medium-sulfur crude oil futures remained stable at 4,029,000 barrels, while fuel oil futures inventory was unchanged at 24,750 tons [3] - The data also indicated a phenomenon of "backwardation" in the market for fuel oil, asphalt, and liquefied petroleum gas, where spot prices exceeded futures prices [3] - The basis data revealed that the basis rates for fuel oil, asphalt, and liquefied petroleum gas were 40.77%, 1.54%, and 13.11% respectively, indicating varying levels of market dynamics [3]

Core Insights - The domestic futures market for crude oil saw a significant increase, with the main crude oil futures rising nearly 9% [1] - The main crude oil futures closed at 535.20 yuan per barrel, while fuel oil and low-sulfur fuel oil also experienced substantial gains [1] Price Movements - As of June 13, the main crude oil futures opened at 492.90 yuan, with a previous close of 495.70 yuan and a last settlement price of 491.10 yuan [2] - Fuel oil opened at 2979.00 yuan, with a previous close of 2997.00 yuan and a last settlement price of 2982.00 yuan [2] - Liquid petroleum gas opened at 4137.00 yuan, with a previous close of 4141.00 yuan and a last settlement price of 4148.00 yuan [2] - Low-sulfur fuel oil opened at 3629.00 yuan, with a previous close of 3645.00 yuan and a last settlement price of 3640.00 yuan [2] Inventory Data - As of June 12, the inventory data showed that the medium-sulfur crude oil futures warehouse held 4,029,000 barrels, remaining unchanged from the previous trading day [3] - Fuel oil futures warehouse held 24,750 tons, also unchanged from the previous trading day [3] - Liquid petroleum gas futures warehouse saw a decrease of 125 contracts, totaling 9,010 contracts [3] - Low-sulfur fuel oil warehouse futures held 0 tons, remaining unchanged from the previous trading day [3] Basis Data - The basis data indicated that fuel oil, asphalt, liquid petroleum gas, and low-sulfur fuel oil contracts experienced a 'backwardation' phenomenon, where spot prices exceeded futures prices [3] - For fuel oil, the spot price was 5,287.5 yuan, while the contract price was 2,509 yuan, resulting in a basis of 2,305 yuan and a basis rate of 43.59% [3] - The basis for liquid petroleum gas was 764 yuan, with a basis rate of 15.92% [3]

Core Viewpoint - The domestic futures market for crude oil and related products showed a significant upward trend on June 10, with the main crude oil futures rising nearly 2% [1] Group 1: Price Movements - As of June 10, the main crude oil futures increased by 1.69%, reaching 481.80 yuan per barrel [1] - Fuel oil futures rose by 1.33%, priced at 2980.00 yuan per ton [1] - Low-sulfur fuel oil futures saw a 1.02% increase, now at 3573.00 yuan per ton [1] - Liquefied petroleum gas futures increased by 0.58%, priced at 4129.00 yuan per ton [1] Group 2: Futures Price Data - The opening price for SC crude oil was 478.20 yuan, with a previous close of 474.30 yuan and a last settlement price of 473.80 yuan [2] - Fuel oil opened at 2955.00 yuan, with a previous close of 2927.00 yuan and a last settlement price of 2941.00 yuan [2] - Asphalt futures opened at 3500.00 yuan, with a previous close of 3488.00 yuan and a last settlement price of 3511.00 yuan [2] - Liquefied petroleum gas opened at 4128.00 yuan, with a previous close of 4116.00 yuan and a last settlement price of 4105.00 yuan [2] - Low-sulfur fuel oil opened at 3537.00 yuan, with a previous close of 3514.00 yuan and a last settlement price of 3537.00 yuan [2] Group 3: Warehouse Data - As of June 9, the warehouse receipts for medium-sulfur crude oil futures stood at 4,029,000 barrels, unchanged from the previous trading day [3] - Fuel oil futures warehouse receipts were at 28,950 tons, also unchanged [3] - Asphalt futures warehouse receipts were at 36,350 tons, remaining stable [3] - Liquefied petroleum gas futures warehouse receipts totaled 9,340 hands, unchanged [3] - Low-sulfur fuel oil warehouse receipts were at 1,000 tons, consistent with the previous day [3] Group 4: Basis Data - The basis data indicates a phenomenon of 'backwardation' for fuel oil, asphalt, liquefied petroleum gas, and low-sulfur fuel oil, where spot prices exceed futures prices [3] - For fuel oil, the spot price was 5,275 yuan, with a futures price of 2,509 yuan, resulting in a basis of 2,394 yuan and a basis rate of 45.38% [3] - For asphalt, the spot price was 3,630 yuan, with a futures price of 2,509 yuan, leading to a basis of 119 yuan and a basis rate of 3.28% [3] - For liquefied petroleum gas, the spot price was 4,782.5 yuan, with a futures price of 2,507 yuan, resulting in a basis of 677 yuan and a basis rate of 14.16% [3] - For low-sulfur fuel oil, the spot price was 3,597 yuan, with a futures price of 2,508 yuan, leading to a basis of 83 yuan and a basis rate of 2.31% [3]

Core Viewpoint - The domestic futures market for crude oil shows a significant decline, with the main crude oil futures dropping over 3% on April 30, indicating a bearish trend in the market [1]. Group 1: Price Movements - As of April 30, the main crude oil futures fell by 3.50%, settling at 471.00 yuan per barrel [1]. - Fuel oil futures decreased by 1.88%, priced at 2925.00 yuan per ton [1]. - Low-sulfur fuel oil futures dropped by 2.75%, reaching 3391.00 yuan per ton [1]. - Liquefied petroleum gas futures saw a slight increase of 0.55%, priced at 4407.00 yuan per ton [1]. - The opening prices for various contracts on April 30 included SC crude oil at 480.10 yuan, fuel oil at 2945.00 yuan, and liquefied petroleum gas at 4389.00 yuan [2]. Group 2: Inventory Data - As of April 29, the inventory data showed that the medium-sulfur crude oil futures warehouse held 4,644,000 barrels, remaining stable compared to the previous trading day [3]. - Fuel oil futures inventory increased by 4,950 tons, totaling 51,120 tons [3]. - The inventory for asphalt futures remained unchanged at 34,070 tons [3]. - Liquefied petroleum gas futures inventory was stable at 7,757 hands [3]. - Low-sulfur fuel oil futures inventory also remained unchanged at 42,250 tons [3]. Group 3: Basis Data - The basis data indicated that fuel oil, asphalt, liquefied petroleum gas, and low-sulfur fuel oil contracts experienced a 'backwardation' phenomenon, where spot prices exceeded futures prices [3]. - The basis for fuel oil was calculated at 2,481 yuan, with a basis rate of 45.42% [3]. - The basis for asphalt was 209 yuan, with a basis rate of 5.73% [3]. - The basis for liquefied petroleum gas was 584 yuan, with a basis rate of 11.76% [3]. - The basis for low-sulfur fuel oil was 131 yuan, with a basis rate of 3.66% [3].