The hottest Guangyong futures crude oil is weak an

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Guangyong Futures: crude oil is weak, and Shanghai's fuel oil market remains weak.

[futures price trend]

dragged down by demand concerns, crude oil fell below $60 last week, nymex12 closed at $57.04/barrel in February, and the electronic market fell short on Monday. On Monday, the Shanghai fuel oil contract was nearly weak and far stronger. The main 902 contract opened low and went high, closing at 2339 yuan/ton, down 25 yuan, and the position increased significantly


1. On November 17, the fuel oil price in Shanghai market represented that the products were sold all over the country and exported to all parts of the world, with a sharp decline. The mainstream quotation of domestic and 180CST Kuti was 2400 yuan/ton. A: the relative resolution of the power values of level 0.5 and level 1 Experimental machines were 0 25% and 0.5% after the success and implementation of the degradation film experiment 1/120000 or 1/300000 represents the relative full-scale resolution value, down 100 yuan; The mainstream price for onshore supply is yuan/ton. The market sales are not good, and the industry continues to be bearish

2. On November 17, due to weak demand, Asian fuel oil and naphtha inventories will next introduce a simple and intuitive electronic tensile testing machine, and the speed and force value verification method will remain high. The demand for purchasing fuel oil is weak, among which Japanese power plants only buy limited low sulfur fuel oil, while China refuses to buy straight run fuel oil, resulting in the closure of a large number of small refineries due to poor profit margins. On the market, the supply of fuel oil, especially high sulfur fuel oil, will continue to accumulate due to the increase in European inflows

3. On the news side, OPEC is scheduled to hold an emergency meeting in Cairo, the capital of Egypt, on the 29th of this month to discuss the situation of the international crude oil market in response to the continuous decline in oil prices, and the market is expected to reduce production. It is beneficial to international oil prices in the short term, and the long-term effect needs to be observed

4. Position. CFTC data on Friday showed that as of this Tuesday, the fund has increased its short positions significantly, with a fund clearance of 52974 hands. The market lacks the power to do long, and will continue to maintain a weak trend in the short term

[operation suggestions]

recently, the economic data released by the United States was gloomy, the manufacturing industry shrank, and consumption fell, which significantly suppressed the crude oil market. At present, the global bailout seems to have insufficient impact on the crude oil market, which is difficult to offset the weakness of fundamentals. At present, Shanghai fuel oil is still weak, mainly short selling at intraday highs, and the stop loss point is temporarily set at 2400

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