According to the Commodity Analysis System of SunSirs, as of August 14th, the average price of domestic fuel oil 180CST was 5,346.00 RMB/ton (including tax), an increase of 1.52% from the price of 5,266.00 RMB/ton on August 7th.

On August 14th, the fuel oil commodity index was 108.27, an increase of 0.6 points from the previous day, a decrease of 20.92% from the cycle's highest point of 136.91 points (2022-11-17), and an increase of 134.96% from the lowest point of 46.08 points on August 15th, 2016. (Note: The cycle refers to the period from September 1st, 2011 to the present)

According to SunSirs, as of August 14th, the self extracting low sulfur quotation for fuel oil 180cst in Zhoushan area of China National Combustion Corporation is 5,300 RMB/ton, and the self extracting low sulfur quotation for fuel oil 120cst is 5,400 RMB/ton; The quotation for 180 cst self extracting low sulfur fuel oil in the Shanghai region of China National Combustion Corporation is 5,230 RMB/ton, while the quotation for 120 cst self extracting low sulfur fuel oil is 5,330 RMB/ton.

Last week, the international crude oil market fluctuated and rose. Due to concerns about market supply and continued fermentation, coupled with the positive phase of the peak oil consumption season, OPEC+, an oil producing country, has continued to reduce production by an additional scale, and the decline in finished oil storage in the United States has exceeded expectations.

Singapore's fuel inventory has decreased. It is reported that the Enterprise Development Authority (ESG) of Singapore has reduced its fuel inventory by 2.455 million barrels in the week ending August 9th, reaching a three week low of 20.466 million barrels. Singapore's medium distillate oil inventory decreased by 82,000 barrels to a nearly 8-month low of 7 million barrels. Singapore's light distillate oil inventory decreased by 651,000 barrels to a three week low of 13.094 million barrels.

Last week, the international crude oil market fluctuated and rose, while the domestic refined oil market rose. The cost of ship fuel blended exchange was strong, and there was strong bullish sentiment in the market. However, the terminal demand was average, and purchases were mainly needed for transactions. At present, the low sulfur market price of fuel oil 180CST is around 5,200-5,400 RMB/ton, and the low sulfur market price of fuel oil 120CST is around 5,300-5,500 RMB/ton, which is a single negotiation. On the 14th, the cost of domestic ship fuel blending eased, and the market was mainly bearish. Trading was relatively light, and it is expected that the fuel oil 180CST market will be mainly consolidated in the near future.

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