According to the commodity analysis system of SunSirs, the domestic fuel oil 180CST market has continued to rise recently. As of February 24th, the average price of domestic fuel oil 180CST was 5,756.00 RMB/ton (including tax), an increase of 1.16% from the price of 5,690.00 RMB/ton on February 17th.

According to SunSirs, the recent increase in the price of blended raw materials for ship fuel has supported the domestic ship fuel market. Currently, downstream shipping market ship owners have limited oil replenishment, and the main reason for replenishment is the urgent need for transactions. As of February 24th, the self pickup low sulfur quotation for 180CST of fuel oil in the Dalian area of China National Nuclear Corporation is 6,100 RMB/ton, and the self pickup low sulfur quotation for 120CST of fuel oil is 6,200 RMB/ton; The self extracted low sulfur quotation for 180CST fuel oil in the Shanghai area of China National Fuel Oil Corporation is 5,730 RMB/ton, and the self extracted low sulfur quotation for 120CST fuel oil is 5,830 RMB/ton.

Recently, the crude oil price market has fluctuated. On the one hand, the United States has imposed tariffs and Trump has requested OPEC to increase production to lower oil prices. On the other hand, with high US crude oil inventories, concerns about crude oil demand still exist in the market, and crude oil prices have been suppressed; On the other hand, the geopolitical situation between Russia and Ukraine has eased, and crude oil market prices remain low.

In terms of international fuel oil, the Singapore Enterprise Development Board (ESG) reported that as of the week ending February 19th, Singapore's fuel oil inventory decreased by 1.169 million barrels, reaching a three week low of 18.911 million barrels.

Market forecast: The recent international crude oil market volatility is bearish on the domestic ship fuel market; In the ship supply market, the price of ship fuel is high, and ship owners resist high prices. Small orders for essential needs are the main reason, with light transactions and a strong wait-and-see sentiment in the market. At present, the self extracted low sulfur quotation for 180CST fuel oil is 5,600-5,900 RMB/ton, and the self extracted low sulfur quotation for 120CST fuel oil is 5,700-6,000 RMB/ton. It is expected that the fuel oil 180CST market will mainly consolidate in the near future.

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