According to the Commodity Analysis System of SunSirs, as of August 27th, the average price of domestic fuel oil 180CST was 5,280.00 RMB/ton (including tax), a decrease of 1.42% from the price of 5,356.00 RMB/ton on August 21st.

On August 27th, the fuel oil commodity index was 106.94, unchanged from yesterday, a decrease of 21.89% from the cycle's highest point of 136.91 (2022-11-17), and an increase of 132.07% from the lowest point of 46.08 on August 15th, 2016. (Note: The cycle refers to the period from September 1st, 2011 to the present)

According to SunSirs, as of August 27th, the self extracting low sulfur quotation for 180CST of fuel oil in the Ningbo area of China National Combustion Corporation is 5,250 RMB/ton, and the self extracting low sulfur quotation for 120CST of fuel oil is 5,300 RMB/ton; The quotation for 180CST self extracting low sulfur fuel oil in the Shanghai region of China National Combustion Corporation is 5,200 RMB/ton, and the quotation for 120CST self extracting low sulfur fuel oil is 5,300 RMB/ton.

The international crude oil market has been fluctuating and declining recently. On the one hand, concerns about the prospects for global economic growth have put pressure on crude oil. On the other hand, the weak economic data in China has dragged down the oil market, coupled with the instability of the European and American banking industry, a decrease in risk appetite, and pressure on the oil market.

Singapore's fuel inventory has increased. It is reported that the Enterprise Development Authority (ESG) of Singapore has increased its medium distillate inventory by 1.118 million barrels to 8.635 million barrels in the week ending August 23; Singapore's light distillate inventory decreased by 133000 barrels to 12.766 million barrels; Singapore's fuel oil inventory increased by 2.018 million barrels to 22.099 million barrels.

In the near future, the international crude oil market has been fluctuating and declining, while the prices of domestic ship fuel blended raw materials have declined, and the overall market prices of ship fuel have declined; In the shipping market, freight rates continue to be low, and shipowners are cautious in purchasing. They have a strong wait-and-see attitude and are in need of refueling, with small orders being the main focus. At present, the low sulfur market price of fuel oil 180CST is around 5,200-5,300 RMB/ton, and the low sulfur market price of fuel oil 120CST is around 5,300-5,400 RMB/ton, which is a single negotiation. It is expected that the fuel oil 180CST market may experience a slight decline in the near future.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.