SunSirs: Fuel Oil 180CST Market Held Steady This Week (4.19-4.26)

According to the data of the SunSirs, as of April 26, the average price of domestic fuel oil 180CST was 4487.50 RMB/ton (including tax), which was the same as on April 19.

On April 26, the fuel oil commodity index was 90.89, the same as yesterday, down 21.59% from the highest point of 115.91 (2018-10-17) in the cycle, and up 97.24% from the lowest point of 46.08 on August 15, 2016. (Note: Period refers to 2011-09-01 to present)

Domestic bunker oil raw materials rise to fuel oil 180CST cost support. According to the SunSirs to understand, As of April 26, CNGC Zhoushan fuel oil 180CST self-lifting low sulfur price of 4,350 RMB/ton, fuel oil 120CST self-lifting low sulfur price of 4,450 RMB/ton; CGC Shanghai fuel oil 180CST self-lifting low sulfur price of 4,550 RMB/ton, 120CST self-lifting low sulfur fuel oil price of 4,650 RMB/ton.

Oil prices fell on upbeat economic data in the United States and Europe and the prospect of an economic recovery, but concerns about a surge in new cases in India and Japan capped gains.

Singapore fuel stocks increased, limited support for fuel oil prices. Singapore's inventories of residual fuel oil, which includes fuel oil and low-sulfur wax-based residues, rose by 855,000 BPD to 24.813 million BPD in the week ended April 21, according to ESG. Inventories of light distillates, which include naphtha, gasoline, and reformer oil, fell 1.268 million barrels to a four-month low of 13.472 million barrels. For the week, distillate stocks rose 56,000 barrels to a four-week high of 13.487 million barrels.

Future forecast: energy analysts of the business community have stabilized the domestic fuel oil 180CST market price shortly, with low downstream demand, mainly terminal on-demand procurement, weak transaction, and great resistance to rising. Fuel oil 180CST price is expected to be stable soon.

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