According to the commodity analysis system of SunSirs, the domestic fuel oil 180CST market was mainly consolidated last week, with a slight increase. As of December 22, the average price of domestic fuel oil 180CST was 5,530.00 RMB/ton (including tax), an increase of 0.07% from the price of 5,526.00 RMB/ton on December 16.

According to Business News Agency, as of December 22, the self pickup low sulfur quotation for 180CST fuel oil in Dalian area of China National Chemical Corporation is 5800 RMB/ton, and the self pickup low sulfur quotation for 120CST fuel oil is 5900 RMB/ton; The self extracted low sulfur quotation for 180CST fuel oil in the Shanghai area of China National Fuel Oil Corporation is 5,400 RMB/ton, and the self extracted low sulfur quotation for 120CST fuel oil is 5,500 RMB/ton.

Last week, crude oil prices fluctuated downwards. On the one hand, the geopolitical tension between Russia and Ukraine escalated, and the United States announced a new round of sanctions against Russia. In addition, OPEC+may extend its production reduction plan again at the December meeting, and it may be postponed until the second quarter of next year. This news is positive for international oil prices. On the other hand, the weak demand in the international crude oil market and investors' concerns about the prospect of oversupply in the crude oil market still exist, which is bearish on the oil market.

In terms of international fuel oil, the Singapore Enterprise Development Board (ESG) reported that as of the week ending December 18th, Singapore's medium distillate inventories decreased by 813,000 barrels, reaching a two-week low of 10.557 million barrels, and light distillate inventories decreased by 556,000 barrels, reaching a two-week low of 14.836 million barrels. Singapore's fuel inventory increased by 11.046 million barrels, reaching a new high of 28.967 million barrels in over 8 years.

Last week, the international crude oil market fluctuated downward, and the wait-and-see sentiment in the domestic ship fuel market increased; In the shipping market, the coastal bulk cargo price index continues to decline, with shipping terminals mainly purchasing for essential needs, resulting in sluggish transactions. At present, the self extracted low sulfur quotation for 180CST fuel oil is 5,350-5,650 RMB/ton, and the self extracted low sulfur quotation for 120CST fuel oil is 5,450-5,750 RMB/ton. It is expected that the fuel oil market at 180CST will experience a narrow consolidation in the near future.

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