According to the commodity analysis system of SunSirs, the 180CST fuel oil market in East China slightly declined last week. As of April 27th, the average price of 180CST fuel oil in China was 5,475.00 RMB/ton (including tax), a decrease of 0.45% from the 5500.00 RMB/ton price on April 21st.

According to the SunSirs, last week's drop in the price of blended raw materials for ship fuel has limited support for the domestic ship fuel market. The downstream shipping market has stable coastal bulk freight rates, limited support for terminal demand, and ship owners mainly need small orders for refueling. According to Business News Agency, as of April 27th, the self pickup low sulfur quotation for 180cst fuel oil in Dalian area of China National Chemical Corporation is 5,540 RMB/ton, and the self pickup low sulfur quotation for 120cst fuel oil is 5,640 RMB/ton; The self extracted low sulfur quotation for 180cst fuel oil in the Shanghai area of China National Fuel Oil Corporation is 5,250 RMB/ton, and the self extracted low sulfur quotation for 120cst fuel oil is 5,350 RMB/ton.

Last week, the overall crude oil market declined, and OPEC+ is considering further increasing production in June. Kazakhstan also stated that it may be difficult to strictly comply with the compensatory production reduction plan. The easing of the geopolitical situation has put pressure on the oil market.

In terms of international fuel oil, the Singapore Enterprise Development Board (ESG) reported that as of the week ending April 23, Singapore's fuel oil inventories rose by 1.239 million barrels to an 18 week high of 24.126 million barrels; The inventory of middle distillate oil decreased by 1.138 million barrels, reaching a 9-month low of 8.576 million barrels; The inventory of light distillate oil increased by 1.128 million barrels, reaching a two-week high of 15.62 million barrels.

The recent rise in crude oil prices has provided support for the domestic marine fuel market; In the shipping market, transactions are generally average, with a focus on essential needs. At present, the self extracted low sulfur quotation for 180cst fuel oil is 5,250-5,600 RMB/ton, and the self extracted low sulfur quotation for 120cst fuel oil is 5,350-5,700 RMB/ton. It is expected that the fuel oil 180CST market will mainly consolidate in the near future.

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