Q:

Analysis of China Domestic Fuel Oil Market (June 15)

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A:

Regarding the spot market, quotes to low-sulfur 180cst and 120cst fuel oil remained generally stable. In the futures market, the main 2609 contract closed at 3,608 RMB/tonne on June 12, 2026—a decline of 93 RMB/tonne from the previous trading day. Trading volume was robust, and open interest increased by 17,216 lots; clear signs of short-position accumulation suggest immediate downward pressure on prices, acting as a moderately bearish factor to the market outlook.

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