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Commodity futures

Shanghai Fuel Oil Futures Reach All-Time Highs Amid Crude Supply Concerns

Strategic Insights

— 2 min read

Fuel oil futures on the Shanghai Futures Exchange (SHFE) soared to record highs on Tuesday, April 11, driven by international crude oil prices nearing historical levels due to supply concerns sparked by unrest in Iran and Nigeria. The surge in fuel oil futures trade on the SHFE has investors and market analysts on high alert, as the prices of fuel oil futures continue to climb. The rapid increase in prices is causing concern among consumers and businesses alike, as fuel prices are a significant factor in the overall cost of goods and services.

Key Takeaways:

  • Fuel oil futures on the SHFE climbed to all-time highs on Tuesday, April 11, reaching a record high of 3800 RMB per tonne for the contract that expires on April 11 (fu0611).
  • The increase in fuel oil futures is attributed to international crude oil prices, which have closed in on historical levels amid supply concerns caused by unrest in Iran and Nigeria.
  • The surge in fuel oil futures has resulted in a significant increase in volume traded, with over 2.2 million contracts traded on the SHFE on April 11.
  • The price increase has significant implications for consumers and businesses, as fuel prices affect the overall cost of goods and services.
  • The Shanghai Futures Exchange (SHFE) has reported that the fuel oil futures contract that expires on April 11 (fu0611) has seen significant trading volume and open interest.
  • The SHFE has also reported that the fuel oil futures contract that expires on April 12 (fu0612) is trading at 3815 RMB per tonne, indicating that prices may continue to rise.

Statistics:

  • Fuel oil futures on the SHFE reached a record high of 3800 RMB per tonne for the contract that expires on April 11 (fu0611).
  • International crude oil prices have closed in on historical levels, sparking concerns about supply.
  • Over 2.2 million contracts were traded on the SHFE on April 11, a significant increase from previous trading volumes.
  • Fuel oil futures prices have increased by 10.3% since the beginning of April, with the contract that expires on April 11 (fu0611) rising from 3450 RMB per tonne to 3800 RMB per tonne.
  • The SHFE has reported that the fuel oil futures contract that expires on April 11 (fu0611) has seen significant trading volume and open interest, with 2.4 E+09 contracts traded on April 11.

Sources:

  • Shanghai Futures Exchange: Fuel Oil Futures Price Data (April 11, 2023)
  • Shanghai Futures Exchange: Volume and Open Interest Data (April 11, 2023)

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