SHFE fuel oil futures rise due to rebounding crude oil prices
Shanghai. July 6. INTERFAX-CHINA - Shanghai Futures Exchange (SHFE) fuel oil prices rose slightly on July 6 due to crude oil prices rebounding overnight. The most traded 2011 September contract closed the session 0.22 percent higher at RMB 4,975 ($770.12) per ton.
The August crude oil delivery contract on the New York Mercantile Exchange (NYMEX) rose 2.05 percent, closing at $96.89 per barrel on July 5.
Shanghai fuel oil futures prices were 0.72 percent lower on average from June 30 to July 6 on concerns of increasing supplies as China began removing the fuel oil import tax.
The following table outlines fuel oil futures traded on the Shanghai Futures Exchange on June 30 and July 6, 2011.
Fuel oil futures trade on the Shanghai Futures Exchange June 30, and July 6, 2011
| Contract | Close on June 30 (RMB) | Close on July 6 (RMB) | Change (RMB) | Change (%) |
| Fu1107 | 4,860 | 4,825 | -35 | -0.72 |
| Fu1108 | 4,958 | 4,975 | 17 | 0.34 |
| Fu1109 | 4,965 | 5,036 | 71 | 1.43 |
| Fu1110 | 5,005 | 5,000 | -5 | -0.10 |
| Fu1111 | 4,993 | 4,995 | 2 | 0.04 |
| Fu1112 | 4,993 | 5,065 | 72 | 1.44 |
| Fu1202 | 5,073 | 5,000 | -73 | -1.44 |
| Fu1203 | 5,036 | 5,021 | -15 | -0.30 |
| Fu1204 | 5,065 | 5,082 | 17 | 0.34 |
| Fu1205 | 5,082 | 5,077 | -5 | -0.10 |
| Fu1206 | 5,077 | 4,825 | -252 | -4.96 |
Source: SHFE
Note: The U.S. dollar traded at 6.46 against the renminbi on July 6, 2011