According to the Commodity Analysis System of SunSirs, as of September 11th, the average price of domestic fuel oil 180CST was 5,386.00 RMB/ton (including tax), an increase of 3.18% from the price of 5,220.00 RMB/ton on September 1st.

According to Business News, as of September 11th, the self raised low sulfur quotation for fuel oil in the Ningbo area of China National Combustion Corporation was 5,450 RMB/ton for 180cst, and 5,500 RMB/ton for 120cst; The quotation for 180 cst self extracting low sulfur fuel oil in the Shanghai region of China National Combustion Corporation is 5,330 RMB/ton, and the quotation for 120 cst self extracting low sulfur fuel oil is 5,430 RMB/ton.

The international crude oil market has recently risen. OPEC+, an oil producing country, is rumored to have extended production cuts. The market expects an additional 1 million barrels of production reduction from Saudi Arabia to continue until December, while Russia's crude oil production reduction will continue until December. Supply tightening is expected to continue to ferment and boost the oil market; In addition, the weakening of the US dollar has led to a rebound in oil market valuations and the potential impact of storms in the US Gulf on energy supply, which is a positive factor supporting international oil prices.

In terms of international fuel oil, it is understood that the Singapore Enterprise Development Group (ESG): As of the week ending September 6th, Singapore's fuel oil storage decreased by 465,000 barrels, reaching a 7-week low of 19.45 million barrels. The US fuel oil inventory decreased by 629,000 barrels to 26.228 million barrels in the week ended September 1 compared to the previous week. The import volume of fuel oil in the United States has jumped from 5000 barrels per day in the previous week to 63,000 barrels per day, while the continuous monsoon season in South Asia has suppressed power generation demand, and Sri Lanka's Ceylon Oil Company is also seeking to reduce delivery volume.

In the near future, the international crude oil market has been on the rise, and the prices of domestic ship fuel blended raw materials have increased, leading to an overall increase in the ship fuel market prices; In the shipping market, coastal freight rates continue to be sluggish, coupled with the impact of typhoons, terminal refueling is limited, and shipowners have increased their inquiries, resulting in a strong wait-and-see sentiment. At present, the low sulfur market price of fuel oil 180CST is around 5,300-5,400 RMB/ton, while the low sulfur market price of fuel oil 120CST is around 5,400-5,500 RMB/ton, which is a single negotiation. It is expected that the fuel oil 180CST market will be mainly consolidated in the near future.

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