8月15日，国内期市原油系板块大面积飘红，液化石油气主力涨逾1%。具体来看，截止目前，原油主力 上涨0.91%，报488.00元/桶；低硫燃料油主力上涨0.06%，报3453.00元/吨；沥青主力下跌0.40%，报 3464.00元/吨；液化石油气主力上涨1.28%，报3881.00元/吨。 液化石油气期货仓单12948手，环比上个交易日减少5手； 低硫燃料油仓库期货仓单16080吨，环比上个交易日减少4970吨； 截止北京时间8月14日，据基差数据显示：燃料油、石油沥青、液化石油气、低硫燃料油品种合约出 现'期现倒挂'(现货价格高于期货价格)现象。 商品名称 现货价格 合约 期货价格 基差 基差率 燃料油 5337.5 2509 2708 2629 49.26% 石油沥青 3670 2510 3478 192 5.23% 液化石油气 4680 2510 4292 388 8.29% 低硫燃料油 3566 2510 3449 117 3.27% | 合约名称 | 开盘价 | 昨收价 | 昨结价 | | --- | --- | --- | --- | | SC原油 | 482.60 | 481.90 | 483 ...

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].