According to the commodity analysis system of SunSirs, the domestic fuel oil 180CST market slightly fell in late January. As of January 27th, the average price of domestic fuel oil 180CST was 5,576.00 RMB/ton (including tax), a decrease of 0.54% from the price of 5,606.00 RMB/ton on January 21st.

According to Business News, international crude oil prices fell sharply in late January, and there was a strong bearish sentiment in the domestic ship fuel market. The prices of ship fuel blended raw materials rose, and downstream shipping market ship owners had limited oil replenishment before the holiday. Some ships were suspended, and the main demand for replenishment was due to urgent transactions. As of January 27th, the self pickup low sulfur quotation for 180CST of fuel oil in the Dalian area of China National Fuel Oil Corporation was 5,850 RMB/ton, and the self pickup low sulfur quotation for 120CST of fuel oil was 5,950 RMB/ton; The self extracted low sulfur quotation for 180CST fuel oil in the Shanghai area of China National Fuel Oil Corporation is 5,500 RMB/ton, and the self extracted low sulfur quotation for 120CST fuel oil is 5,600 RMB/ton.

In late January, crude oil prices fell overall, and the easing of the Palestinian Israeli situation weakened potential supply risks. The United States will increase crude oil production and replenish strategic reserves, causing a decline in crude oil market prices.

In terms of international fuel oil, the Singapore Enterprise Development Board (ESG) reported that as of the week ending January 22, Singapore's light distilled oil inventory decreased by 316,000 barrels, falling to a seven week low of 14.55 million barrels; The inventory of medium distilled oil decreased by 66,000 barrels, reaching a two-week low of 9.082 million barrels; The fuel oil storage increased by 362,000 barrels, reaching a four week high of 21.107 million barrels.

Market forecast: Before the Spring Festival, the main demand for shipping terminal procurement will be light, with some ships suspended. The overall market price of ship fuel will remain stable. At present, the self extracted low sulfur quotation for 180CST fuel oil is 5,400-5,800 RMB/ton, and the self extracted low sulfur quotation for 120CST fuel oil is 5,500-5,900 RMB/ton. It is expected that the fuel oil 180CST market will remain stable and consolidate in the near future.

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