According to the Commodity Analysis System of SunSirs, the price of domestic fuel oil 180CST increased slightly last week. As of March 25th, the average price of domestic fuel oil 180CST was 5,680.00 RMB/ton (including tax), an increase of 0.35% from the price of 5,660.00 RMB/ton on March 18th.

According to the SunSirs, as of March 25th, the self pickup low sulfur quotation for fuel oil 180CST in the Dalian area of CNOOC is 5,800 RMB/ton, and the self pickup low sulfur quotation for fuel oil 120CST is 5,900 RMB/ton; The price for self extracting low sulfur fuel oil in the Shanghai area of CNOOC is 5,850 RMB/ton for 180CST, and 5,950 RMB/ton for self extracting low sulfur fuel oil in 120CST.

Last week, the international crude oil market rose first and then fell, initially supported by the tense geopolitical situation in the Middle East; In addition, the expected reduction in production by oil producing countries is also a major factor supporting oil prices, leading to an increase in international oil prices. The weak data on US gasoline demand in the later period and reports on the draft resolution calling for a ceasefire in Gaza by the United Nations have put pressure on oil prices.

In terms of international fuel oil, it is understood that the Singapore Enterprise Development Board (ESG): As of the week ending March 20, Singapore's medium distillate oil inventory decreased by 438,000 barrels, reaching a two-week low of 10.349 million barrels; Singapore's fuel inventory rose by 682,000 barrels to a four week high of 22.09 million barrels; Singapore's light distillate inventory decreased by 772,000 barrels to a two-week low of 15.101 million barrels.

The decline in international crude oil prices has increased the wait-and-see sentiment in the ship fuel market, with the market mainly executing early orders; The demand in the shipping market and the shipping terminal market is weak, and coastal bulk transportation prices are consolidating at a low level. Merchants mainly purchase on demand. At present, the low sulfur market price of fuel oil 180CST is around 5,700-5,800 RMB/ton, and the low sulfur market price of fuel oil 120CST is around 5,800-5,900 RMB/ton, which can be negotiated separately. It is expected that the fuel oil 180CST market will mainly consolidate at a high level in the near future.

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