According to the data of SunSirs, as of August 7, the average price of domestic fuel oil 180CST was 6,490.00 RMB/ ton (tax included), down 0.31% from 6,510.00 RMB/ ton on August 1.

On August 7, the fuel oil commodity index was 131.44, which was the same as the previous day, down 3.14% from the highest point 135.70 in the cycle (June 21, 2022), and up 185.24% from the lowest point 46.08 on August 15, 2016. (Note: the period refers to September 1, 2011 to now)

The international crude oil price fell, and the cost support of the ship fuel market was limited. According to SunSirs, as of August 7, the price of 180CST fuel oil from Zhoushan region of China National combustion Corporation was 6,550 RMB/ ton, and the price of 120cst fuel oil from Zhoushan region was 6,650 RMB/ ton; In Shanghai, the price of 180CST self extracting low sulfur fuel oil is 6,500 RMB/ ton, and the price of 120CST self extracting low sulfur fuel oil is 6,600 RMB/ ton.

The international crude oil price is down. On the one hand, the pessimistic view of the recent economic recession dominates the market. With the release of the commercial crude oil inventory data by the US Energy Information Administration (EIA), it shows that both crude oil and gasoline have unexpectedly surged. The inventory data is far from the general expectation of the market, which also fully shows that the seasonal demand of the United States is decreasing; In addition, the meeting of the organization of Petroleum Exporting Countries and its allies (OPEC +) was held, and the production target was raised, and the oil price began to decline further.

The decrease of fuel oil inventory in Singapore supports the price of fuel oil. It is understood that Singapore enterprise development authority (ESG): as of the week of August 3, Singapore's fuel oil storage fell by 32,000 barrels to a 12 week low of 18.014 million barrels. Singapore's medium distillate stocks increased 1.122 million barrels to a six week high of 8.366 million barrels. Singapore's light fraction oil depot reduced 604,000 barrels to a two-week low of 17.417 million barrels.

Future forecast: the international crude oil is down, the domestic ship fuel market is in a strong wait-and-see mood, the downstream goods receiving mentality is cautious, the market terminal demand is general, the transaction is light, and the demand is just the main one. This week, the ship fuel market price is down slightly. At present, the market price of 180CST low sulfur fuel oil is about 6,500 RMB/ ton, and the market price of 120CST low sulfur fuel oil is about 6,600 RMB/ ton, which is a single discussion. It is expected that the market of fuel oil 180CST will be dominated by weakness in China in the near future.

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