According to the Commodity Analysis System of Business Society, the domestic ship fuel market continued to rise in April. As of April 30th, the average price of 180CST fuel oil in China was 5,800.00 RMB/ton, an increase of 2.65% from 5,650.00 RMB/ton on April 1st.

In April, the domestic fuel oil price of 180CST continued to rise. In the first half of the month, international crude oil prices were at a high level, and domestic mixed raw material prices rose, supporting the cost of ship fuel market. The shipping market saw a slight increase in bulk freight rates, which was beneficial to the ship fuel market; In the second half of the month, the international crude oil trend was volatile, with domestic mixed raw material prices rising first and then falling. The market view of procurement was cautious, with a focus on demand. In the shipping market, the current demand in the shipping terminal market is weak, and merchants are under pressure to ship, with small orders being the main demand. According to SunSirs, as of April 30th, the self pickup low sulfur quotation for fuel oil in the Dalian area of CNOOC is 6,100 RMB/ton, and the self pickup low sulfur quotation for fuel oil in the Dalian area is 6,200 RMB/ton; The price for self extracting low sulfur fuel oil in the Shanghai area of CNOOC is 5,880 RMB/ton for 180cst, and 5,980 RMB/ton for self extracting low sulfur fuel oil in 120cst.

The crude oil market in April was volatile, and the instability of the current situation in the Middle East still has a certain positive impact on oil prices, which will keep oil prices at high levels. The resistance to a significant decline in the future is still significant. In addition, the current demand side has also shown some positive expectations, and the peak driving season in North America will stimulate gasoline demand. The decline in US crude oil and finished oil inventories has also provided support for oil prices.

In terms of international fuel oil, it is understood that the Singapore Enterprise Development Board (ESG): As of the week ending April 24th, Singapore's medium distillate oil inventory increased by 1.438 million barrels, reaching a new high of 11.574 million barrels in over two years. The inventory of light fraction oil increased by 284,000 barrels, reaching a two-week high of 14.037 million barrels. Fuel inventory decreased by 3.244 million barrels to a nearly 5-month low of 18.942 million barrels.

The international crude oil market is volatile, and the wait-and-see sentiment in the ship fuel market is increasing. Currently, the market's purchasing mentality is cautious, with a focus on essential needs; In the ship supply market, due to cost constraints, the price difference between north and south fuel supply has narrowed. Currently, the price of ship fuel in the market is high, and many merchants mainly require small orders. At present, the low sulfur market price of fuel oil 180CST is around 5,800-6,100 RMB/ton, and the low sulfur market price of fuel oil 120CST is around 5,900-6,200 RMB/ton, which can be negotiated separately. It is expected that the fuel oil 180CST market will mainly consolidate at a high level after the holiday.

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