According to the data of SunSirs, the average price of 180CST of domestic fuel oil as of November 27 was 6,712.00 RMB/ ton (tax included), 0.56% lower than the price of 6,750.00 RMB/ ton on November 21.

On November 27, the fuel oil commodity index was 135.94, unchanged from the previous day, 0.71% lower than the cycle's highest point of 136.91 (2022-11-17), and 195.01% higher than the lowest point of 46.08 on August 15, 2016. (Note: Period refers to 2011-09-01 to now)

The international crude oil price fluctuated downward, and the cost support of the ship fuel market was limited. According to SunSirs, as of November 27, the self raised low sulfur price of 180CST fuel oil in the Zhoushan area was 6,650 RMB/ ton, and the self raised low sulfur price of 120CST fuel oil was 6,750 RMB/ ton; The price of 180CST self raised low sulfur of fuel oil in CNGC Shanghai is 6,730 RMB/ ton, and the price of 120CST self raised low sulfur of fuel oil is 6,830 RMB/ ton.

International crude oil prices fell in shock. The inventory data released by the US Energy Information Administration (EIA) on Wednesday was negative, and the inventory of refined oil increased more than expected. It was also reported that the Group of Seven considered that the price limit of Russian seaborne oil was higher than the price ceiling of the current market level, and the supply tightening concerns eased. Western countries have not reached an agreement on the upper limit of Russian oil price; The oil price continues to be under pressure due to overlapping demand concerns.

Singapore's fuel oil inventory fell, supporting fuel oil prices. It is understood that the Singapore Enterprise Development Board (ESG): the Singapore Enterprise Development Board (ESG): As of the week ended November 23, the fuel oil inventory in Singapore fell 1.44 million barrels to a three week low of 19.728 million barrels. Singapore's light distillate oil stocks fell by 188,000 barrels to a more than seven month low of 12.978 million barrels. Singapore's medium distillate oil inventory rose 490,000 barrels to a six week high of 7.388 million barrels.

Future market forecast: the international crude oil price has fallen, which is bad for the domestic ship fuel market. The domestic ship fuel raw material price has fallen, the ship fuel market demand is limited, and some businesses have reduced their prices to ship. At present, the 180CST low sulfur fuel oil market price of fuel oil is about 6,600-6,700 RMB/ ton, and the 120CST low sulfur fuel oil market price of fuel oil is about 6,700-6,800 RMB/ ton. It is expected that the 180CST market of fuel oil will decline slightly in China in the near future.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.