On January 30, China Gas Ningbo region quoted the ex-works price for low-sulfur 180cst fuel oil at 5,250 yuan/ton, an increase of 150 yuan/ton compared to the previous trading day, with normal enterprise shipments. PriceSeek analysis of fuel oil, with a long-short score of 1.5, indicates that the spot price for low-sulfur 180cst fuel oil has risen by 150 yuan/ton to 5,250 yuan/ton, and normal enterprise shipments suggest stable demand and tightening supply, which strongly supports spot prices. Combined with futures data, the recent closing price of the main contract, such as 2605, at 2,815 yuan (up 85 points), indicates that the rise in spot prices will boost market expectations and reinforce the upward trend of futures contracts. It is anticipated that futures prices will also be positively affected, benefiting the overall market outlook.
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