SHFE fuel oil futures flat on stable crude oil prices
Shanghai. December 30. INTERFAX-CHINA - Shanghai Futures Exchange (SHFE) fuel oil prices stayed flat on Dec. 30 as international crude oil prices were stable overnight. The most-traded May contract closed the session at RMB 4,519 ($661.64) per ton.
The February crude oil delivery contract on the New York Mercantile Exchange (NYMEX) gained 0.25 percent to close at $78.87 per barrel on Dec. 29.
Shanghai fuel oil futures prices rose 1.21 percent on average from Dec. 24 to Dec. 30 following a rally in the international crude oil prices over the period. Rising crude oil prices were brought on by the ongoing cold weather in some parts of the world and the halt of the appreciation of the U.S. dollar.
The following table outlines fuel oil futures prices on the Shanghai Futures Exchange on Dec. 24 and Dec. 30.
Fuel oil futures trade on the Shanghai Futures Exchange, Dec. 24 and Dec. 30, 2009
| Contract | Close on Dec 24 (RMB) | Close on Dec 30 (RMB) | Change (RMB) | Change (%) |
| fu1001 | 4,150 | 4,159 | 9 | 0.22 |
| fu1003 | 4,313 | 4,339 | 26 | 0.60 |
| fu1004 | 4,377 | 4,428 | 51 | 1.17 |
| fu1005 | 4,449 | 4,519 | 70 | 1.57 |
| fu1006 | 4,511 | 4,569 | 58 | 1.29 |
| fu1007 | 4,588 | 4,624 | 36 | 0.78 |
| fu1008 | 4,640 | 4,620 | -20 | -0.43 |
| fu1009 | 4,670 | 4,717 | 47 | 1.01 |
| fu1010 | 4,695 | 4,750 | 55 | 1.17 |
| fu1011 | 4,766 | 4,810 | 44 | 0.92 |
| fu1012 | 4,801 | 4,850 | 49 | 1.02 |
Source: Shanghai Futures Exchange
Note: The U.S. dollar traded at 6.8283 against the renminbi on Dec. 30, 2009.
-WV