The hottest US crude oil rose slightly, and Shangh

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US crude oil rose slightly, and Shanghai fuel oil continued to rise

[external market] US crude oil contract in September rose US $0.59 to close at US $78.95, rising after falling earlier, as optimistic economic data offset the impact of the US economic slowdown report. Gasoline and heating oil futures in August, which expired at the close, rose, leading the energy market

[external information] the U.S. Department of Commerce announced on Friday that the initial value of the U.S. gross domestic product (GDP) in the second quarter was an increase of 2.4% on an annualized basis. Analysts had expected an increase of 2.5% and a revised growth of 3.7% in the first quarter. Data showed that the growth rate of the U.S. economy slowed down in the second quarter, while the growth rate of imports hit the fastest since the first quarter of 1984. After the data was released, crude oil prices fell sharply. However, after the release of more encouraging data, crude oil futures rose above the level. According to the survey released by Reuters/University of Michigan, the final value of the U.S. University of Michigan consumer confidence index in July was 67.8, which was estimated to be 67.0, and the value at the beginning of July was 66.5. Meanwhile, the American Institute of Supply Management (ISM) announced on Friday that the Chicago purchasing managers' index in July was 62.3, estimated at 56.5, and 59 in June, realizing the speed control of the moving beam of the experimental machine 1。 The data shows that the pace of activities of some enterprises is accelerating

[market review] Shanghai fuel oil 1010 contract opened high today, and then fluctuated to the line, but it fell slightly after the impact of 4800 was blocked in the late trading, but it still closed out of the high jump positive line, the transaction fell slightly, but the position increased. The opening price was 4450, with a maximum of 4497 and a minimum of 4444, and closed at 4475, up 58 yuan/hand from yesterday's settlement

[spot market] the market price of fuel oil in South China remained unchanged, and the overall demand was cold. In that year, the injection molding machine, film blowing and a non degradable plastic bag in this region were 8 cents. The orders of plastic machines, extruders, molding machines and other auxiliary equipment all achieved comprehensive growth. Benchmark Singapore specification 180CST, South China (Whampoa) fuel oil depot royalty valuation of yuan/ton, transshipment transaction valuation of yuan/ton, both flat. Huangpu spot window trading thus reduced the cost. The highest bid price for buying/lowest bid price for selling was 4100/4300 yuan/ton, and the bid ask price difference was 200 yuan/ton, unchanged from Thursday. In terms of buyers, today's inquiry quotation remained stable across the board, and no actual transaction was concluded at the end of the market

[outlook] after the impact of US $80 was blocked, US crude oil fluctuated slightly below US $80, waiting for the opportunity of potential breakthrough. Shanghai fuel oil continued to rise, opening higher today and standing above the 60 day moving average. Although the surrounding markets have given support recently, the situation of U.S. crude oil is uncertain, and there will be the possibility of covering the gap after continuous rise in the future. In the early stage of operation, it will be held with caution and leave the market at high prices

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