> **来源：[研报客](https://pc.yanbaoke.cn)** 燃料油 <table><tr><td>日期</td><td>鹿特丹3.5% HSF O掉期 M1</td><td>鹿特丹0.5% VLS FO掉期 M1</td><td>鹿特丹HSFO-Br ent M1</td><td>鹿特丹10ppm G asoll掉期 M1</td><td>鹿特丹VLSFO-G O M1</td><td>LGO-Brent M1</td><td>鹿特丹VLSFO-H SFO M1</td></tr><tr><td>2026/02/25</td><td>390.33</td><td>440.81</td><td>-9.20</td><td>704.25</td><td>-263.44</td><td>25.59</td><td>50.48</td></tr><tr><td>2026/02/26</td><td>397.76</td><td>449.83</td><td>-9.51</td><td>726.59</td><td>-276.76</td><td>28.68</td><td>52.07</td></tr><tr><td>2026/02/27</td><td>399.61</td><td>457.77</td><td>-9.37</td><td>728.55</td><td>-270.78</td><td>24.78</td><td>58.16</td></tr><tr><td>2026/03/02</td><td>435.86</td><td>486.41</td><td>-7.76</td><td>810.38</td><td>-323.97</td><td>31.92</td><td>50.55</td></tr><tr><td>2026/03/03</td><td>476.06</td><td>514.99</td><td>-3.76</td><td>875.94</td><td>-360.95</td><td>31.92</td><td>38.93</td></tr><tr><td>变化</td><td>40.20</td><td>28.58</td><td>4.00</td><td>65.56</td><td>-36.98</td><td>0.00</td><td>-11.62</td></tr><tr><td>日期</td><td>新加坡380cst M1</td><td>新加坡190cst M1</td><td>新加坡VLSFO M 1</td><td>新加坡GOM1</td><td>新加坡380cst-Br ent M1</td><td>新加坡VLSFO-G O M1</td><td></td></tr><tr><td>2026/02/25</td><td>416.17</td><td>421.47</td><td>486.77</td><td>91.83</td><td>-5.28</td><td>-192.77</td><td></td></tr><tr><td>2026/02/26</td><td>420.67</td><td>425.23</td><td>492.73</td><td>92.08</td><td>-4.59</td><td>-188.66</td><td></td></tr><tr><td>2026/02/27</td><td>421.22</td><td>426.29</td><td>502.98</td><td>92.45</td><td>-5.15</td><td>-181.15</td><td></td></tr><tr><td>2026/03/02</td><td>480.25</td><td>463.54</td><td>547.57</td><td>105.17</td><td>-2.04</td><td>-230.69</td><td></td></tr><tr><td>2026/03/03</td><td>518.50</td><td>523.18</td><td>577.80</td><td>114.05</td><td>2.94</td><td>-266.17</td><td></td></tr><tr><td>变化</td><td>38.25</td><td>59.64</td><td>30.23</td><td>8.88</td><td>4.98</td><td>-35.48</td><td></td></tr></table> 新加坡燃料油现货 <table><tr><td>日期</td><td>FOB 380cst</td><td>FOB VLSFO</td><td>380基差</td><td>高硫内外价差</td><td>低硫内外价差</td></tr><tr><td>2026/02/25</td><td>420.32</td><td>488.44</td><td>4.60</td><td>17.3</td><td>20.3</td></tr><tr><td>2026/02/26</td><td>425.78</td><td>494.07</td><td>5.40</td><td>15.8</td><td>18.3</td></tr><tr><td>2026/02/27</td><td>426.14</td><td>504.57</td><td>5.10</td><td>19.1</td><td>19.6</td></tr><tr><td>2026/03/02</td><td>499.35</td><td>561.41</td><td>9.00</td><td>23.0</td><td>22.3</td></tr><tr><td>2026/03/03</td><td>522.55</td><td>600.09</td><td>10.15</td><td>36.7</td><td>55.3</td></tr><tr><td>变化</td><td>23.20</td><td>38.68</td><td>1.15</td><td>13.7</td><td>33.0</td></tr></table> 国内FU <table><tr><td>日期</td><td>FU 01</td><td>FU 05</td><td>FU 09</td><td>FU 01-05</td><td>FU 05-09</td><td>FU 09-01</td></tr><tr><td>2026/02/25</td><td>2731</td><td>2943</td><td>2839</td><td>-212</td><td>104</td><td>108</td></tr><tr><td>2026/02/26</td><td>2748</td><td>2987</td><td>2872</td><td>-239</td><td>115</td><td>124</td></tr><tr><td>2026/02/27</td><td>2729</td><td>2960</td><td>2855</td><td>-231</td><td>105</td><td>126</td></tr><tr><td>2026/03/02</td><td>2946</td><td>3186</td><td>3069</td><td>-240</td><td>117</td><td>123</td></tr><tr><td>2026/03/03</td><td>3160</td><td>3473</td><td>3342</td><td>-313</td><td>131</td><td>182</td></tr><tr><td>变化</td><td>214</td><td>287</td><td>273</td><td>-73</td><td>14</td><td>59</td></tr></table> 国内LU <table><tr><td>日期</td><td>LU 01</td><td>LU 05</td><td>LU 09</td><td>LU 01-05</td><td>LU 05-09</td><td>LU 09-01</td></tr><tr><td>2026/02/25</td><td>3453</td><td>3436</td><td>3410</td><td>17</td><td>26</td><td>-43</td></tr><tr><td>2026/02/26</td><td>3446</td><td>3460</td><td>3437</td><td>-14</td><td>23</td><td>-9</td></tr><tr><td>2026/02/27</td><td>3427</td><td>3500</td><td>3407</td><td>-73</td><td>93</td><td>-20</td></tr><tr><td>2026/03/02</td><td>3720</td><td>3757</td><td>3685</td><td>-37</td><td>72</td><td>-35</td></tr><tr><td>2026/03/03</td><td>3673</td><td>4112</td><td>3801</td><td>-439</td><td>311</td><td>128</td></tr><tr><td>变化</td><td>-47</td><td>355</td><td>116</td><td>-402</td><td>239</td><td>163</td></tr></table> 鹿特丹3.5% HSFO M1 鹿特丹 $0.5\%$ VLSFO M1 鹿特丹VLSFO-GOM1 鹿特丹VLSFO-HSFO M1 新加坡180cst 新加坡超低硫燃料油基差 高硫内外价差 FU 01-05 FU 09-01 鹿特丹3.5% HSFO-Brent M1 鹿特丹10 ppm GO M1 LGO-Brent M1 新加坡380cst-Brent M1 新加坡380cst基差 新加坡VLSFO-GOM1 低碳内外价差 FU 05-09