According to the Commodity Analysis System of SunSirs, as of July 23, the average price of domestic fuel oil 180CST was 4,954.00 RMB/ton (including tax), an increase of 0.41% compared to the price of 4,934.00 RMB/ton on July 17.

On July 23, the fuel oil commodity index was 100.33, unchanged from yesterday, a decrease of 26.72% from the cycle's highest point of 136.91 points (2022-11-17), and an increase of 117.73% from the lowest point of 46.08 points on August 15, 2016. (Note: The cycle refers to the period from September 1st, 2011 to the present)

According to SunSirs, as of July 23rd, the self extracting low sulfur quotation for fuel oil 180CST in Zhoushan area of China National Combustion Corporation was 4,800 RMB/ton, and the self extracting low sulfur quotation for fuel oil 120CST was 4,900 RMB/ton; The quotation for 180CST self extracting low sulfur fuel oil in China National Diesel Shanghai region is 4,930 RMB/ton, and the quotation for 120CST self extracting low sulfur fuel oil is 5,030 RMB/ton.

Last week, the international crude oil market fluctuated and rose. Affected by the decline in US crude oil inventories and the increase in Chinese crude oil imports, oil prices remain relatively rigid, but concerns about the demand outlook limit the upward trend of oil prices.

Singapore's fuel inventory has decreased. It is reported that the Enterprise Development Authority (ESG) of Singapore has reported a decrease of 17,000 barrels in mid distillate oil inventory as of the week ending July 19th, reaching a two-week low of 7.848 million barrels. Singapore's light distillate inventory decreased by 865,000 barrels, while Singapore's fuel inventory decreased by 547,000 barrels.

Last week, the international crude oil market fluctuated and rose, while the domestic refined oil market rose. The cost of ship fuel mixed exchange was strong, and there was strong bullish sentiment in the market. However, the terminal demand was average, and procurement was mainly needed for transactions. At present, the low sulfur market price of fuel oil 180CST is around 4,800-5,100 RMB/ton, and the low sulfur market price of fuel oil 120CST is around 4,900-5,200 RMB/ton, which is a single negotiation. It is expected that the fuel oil 180CST market may slightly increase in the near future.

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