According to the Commodity Analysis System of SunSirs, as of November 13th, the average price of domestic fuel oil 180CST was 5,318.00 RMB/ton (including tax), a decrease of 0.75% from the price of 5,358.00 RMB/ton on November 6th.

According to SunSirs, as of October 13th, the self extracting low sulfur quotation for 180CST of fuel oil in the Dalian region of China National Combustion Corporation was 5,300 RMB/ton, and the self extracting low sulfur quotation for 120CST of fuel oil was 5,350 RMB/ton; The quotation for 180CST self extracting low sulfur fuel oil in the Shanghai region of China National Combustion Corporation is 5,250 RMB/ton, and the quotation for 120CST self extracting low sulfur fuel oil is 5,350 RMB/ton.

The international crude oil market has been fluctuating and declining recently. The hawkish stance of the Federal Reserve has sparked demand concerns and eased supply tension. There is still a risk of supply side tension, and OPEC+, an oil producing country, will hold a ministerial meeting on November 26th. The market generally believes that its production reduction policy will continue. The geopolitical situation in the Middle East has weakened its impact on oil prices, coupled with poor demand prospects and weak momentum for a significant rebound in oil prices.

In terms of international fuel oil, it is understood that the Singapore Enterprise Development Group (ESG): As of the week ending November 8th, Singapore's light distillate oil inventory decreased by 124,000 barrels, reaching a two-week low of 12.147 million barrels; Singapore's medium distillate oil inventory increased by 543,000 barrels, reaching a two-year high of 9.948 million barrels; Singapore's fuel inventory decreased by 884000 barrels to a January low of 18.552 million barrels.

The international crude oil market is volatile, domestic mixing costs are declining, and the domestic ship fuel market has a strong wait-and-see sentiment; In the shipping market, due to the influence of strong winds and weather at the port, shipowners' transportation is limited, and freight rates have increased. Shipowners are cautious in replenishing goods, and transactions are light, with small orders being the main demand. 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 will be mainly consolidated in the near future.

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