According to the commodity analysis system of SunSirs, the domestic fuel oil 180CST market has been weakly consolidating recently, with a slight downward trend. As of December 30th, the average price of domestic fuel oil 180CST was 5,504.00 RMB/ton (including tax), a decrease of 0.47% from the price of 5,530.00 RMB/ton on December 23rd.

According to the SunSirs, the prices of ship fuel blended raw materials have been weak recently, coupled with limited oil replenishment by downstream shipping market owners, resulting in sluggish transactions. As of December 30th, the self extracted low sulfur quotation for 180CST fuel oil in Dalian area of China National Nuclear Corporation is 5,800 RMB/ton, and the self extracted low sulfur quotation for 120CST fuel oil is 5,900 RMB/ton; The self extracted low sulfur quotation for 180CST fuel oil in the Shanghai area of China National Fuel Oil Corporation is 5,370 RMB/ton, and the self extracted low sulfur quotation for 120CST fuel oil is 5,470 RMB/ton.

Recently, crude oil prices have fluctuated and risen, with US crude oil inventories decreasing by more than market expectations. Coupled with signs of geopolitical escalation in the Middle East, crude oil prices have fluctuated and risen after the Christmas holiday.

In terms of international fuel oil, the Singapore Enterprise Development Board (ESG) reported that as of the week ending December 25th, Singapore's fuel oil inventories decreased by 7.149 million barrels to a two-week low of 21.818 million barrels; Singapore's middle distillate oil inventory decreased by 534,000 barrels, reaching a 6-week low of 10.023 million barrels; Singapore's light distillate oil inventory rose by 349,000 barrels, reaching a two-week high of 15.185 million barrels.

Market forecast: The international crude oil market is expected to rise, boosting the domestic ship fuel market; In the shipping market, coastal bulk cargo prices remain stable at a low level, and shipping terminals mainly rely on essential procurement, resulting in light transactions. At present, the self extracted low sulfur quotation for 180CST fuel oil is 5,350-5,600 RMB/ton, and the self extracted low sulfur quotation for 120CST fuel oil is 5,450-5,700 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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