Shanghai fuel oil of the hottest suwu futures may

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Suwu Futures: Shanghai fuel oil may remain weak in the short term

[combining the above futures markets]

on July 30, Shanghai fuel oil fu0810 closed at 5117, 124 lower than the settlement price on July 29, and its position increased by 3086 to 55180 hands; The settlement price of NYMEX September crude oil futures closed up $4.58, or 3.75%, to $126.77 a barrel, with a daily trading range of 120 79 US dollars, 2012 yuan

[spot market]

on the spot market, on July 30, huataixing Singapore high sulfur 180CST quoted 5400 yuan/ton, down 30 yuan from the 29th; In Zhangjiagang market, the quotation of domestic hybrid 180CST warehouse ship was at yuan/ton, up 10 yuan; Singapore's 180cstpcb market share will further concentrate on large manufacturers. Fuel oil fell by $11.90 to $706.80/ton

[news side]

1. The American Energy Information Association (EIA) released a report on Wednesday that U.S. crude oil and gasoline inventories decreased last week, while distillate oil inventories, including diesel and heating oil, increased. U.S. crude oil inventories decreased by 100000 barrels to 295.2 million barrels, 1.5 million barrels less than analysts' estimates surveyed by Reuters; Gasoline inventory decreased by 3.5 million barrels to 213.6 million barrels, and production decreased by 165000 barrels per day due to gasoline 8, industry profit level and changing trend

2. Valeroenergy, the largest oil refiner in the United States, said on Tuesday that its 16 refineries would reduce gasoline production and postpone some overhaul plans because of the profit loss caused by the surge in crude oil

3. According to the news on July 30 in London, the organization of Petroleum Exporting Countries (OPEC) said on Wednesday that the reference price of a package of 13 OPEC crude oils fell by $1.46 to $121.73 a barrel on Tuesday, and was reported at $123.19 a barrel on Monday

4. Mexico's national oil company said on the 30th that it plans to stabilize Mexico's oil output at 2.8 million barrels per day by the end of 2008

5. The first batch of export cargoes of agbami, a new offshore oil field project in Nigeria, appeared in the spot market, while the price difference of West African crude oil of other grades continued to decline, traders said on Wednesday

[investment analysis]

the unexpected decrease in gasoline inventory pushed up overnight crude oil, but the reason was the decrease in gasoline production and import rather than the increase in demand (in the past four weeks, the daily demand for gasoline in the United States decreased by 2.4% year-on-year to 9.375 million barrels per day), which can also be confirmed by the fact that the decline in crude oil inventory was less than expected. Although the price of crude oil rebounded overnight, on the whole, the latest EIA data is not enough to support the market. If crude oil wants to recover its previous rise, it still needs a certain reconstruction of market confidence. It is likely to continue to adjust sideways around $120 for a period of time

the wait-and-see atmosphere in the domestic fuel oil spot market is still diffuse, the transaction is light, and it is likely to continue to weaken in the near future

in terms of operation, Shanghai fuel is still in the downward channel, or will continue to remain weak. Empty orders are held carefully, or there are high and short days

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