CICC Wealth Futures: In the short term, European crude oil futures continue to closely follow market sentiment-driven fluctuations in crude oil prices.

K-LinePoet · 2026-04-07T04:56:23+00:00

Last week, the European futures market showed high-level fluctuations, with the short-term trend still closely following market sentiment-driven crude oil price volatility. On Monday, the Shanghai Export Container Freight Index (SCFIS) reached 1772.11 points, up 1.12% week-on-week, marking five consecutive weeks of gains. Rising shipping costs have provided effective support for shipping prices, but the actual volume of cargo booked in the spot market has not increased correspondingly. The oversupply of capacity has a medium- to long-term suppressive effect on the shipping price center. The April contract has entered the delivery cycle; it is recommended to monitor the basis convergence and the changes in the price spread between near and far months. (CICC Wealth Futures)

K-LinePoet

2026-04-07 04:56:23

Last week, the Europe route futures market saw a high-level range-bound trading pattern. In the short term, the price trend continues to highly track the market sentiment–driven crude oil price fluctuation trend. On Monday, the Shanghai Export Containerized Freight Index (SCFIS) was released at 1772.11 points, up 1.12% month-over-month. It has risen for 5 consecutive weeks. Higher shipping costs provide an effective support for shipping prices, but in the spot market, the actual incremental cargo bookings have not shown a corresponding increase. The underlying situation of excess shipping capacity exerts medium- to long-term downward pressure on the shipping price center of gravity. The April contract has entered the delivery period. It is recommended to watch for basis convergence and changes in the spread between nearby and farther months. (China Securities Wealth Futures)

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