According to the data of business agency, as of July 25, the average price of domestic fuel oil 180CST was 4800.00 yuan / ton (including tax), up 0.10% from 4795.00 yuan / ton on July 19.

On July 25, the fuel oil commodity index was 97.22, unchanged from yesterday, down 16.12% from the highest point of 115.91 in the cycle (October 17, 2018), and up 110.98% from the lowest point of 46.08 on August 15, 2016（ Note: period refers to the period from September 1, 2011 to now)

The decline of domestic marine oil raw materials has limited support for fuel oil 180CST. According to the business news agency, as of July 25, the quotation of 180 CST fuel oil and 120 CST fuel oil for low sulfur in Zhoushan area was 4700 yuan / ton and 4800 yuan / ton respectively; The quotation of 180 CST self extracting low sulfur fuel oil in Shanghai is 4900 yuan / ton, and the quotation of 120 CST self extracting low sulfur fuel oil is 5000 yuan / ton.

The international crude oil price rebounds after falling, and the news of OPEC + production increase will be gradually digested. With the economic recovery, the optimistic prospect of international energy demand or supporting crude oil shows a strong and volatile trend, the international crude oil price may remain high, and the international crude oil will continue to rise under great pressure.

Singapore’s increased fuel stocks have limited support for fuel oil prices. It is understood that the Singapore enterprise development authority (ESG): as of the week of July 21, Singapore’s fuel oil inventory increased by 1.346 million barrels, rising to a six week high of 24.434 million barrels.

Future forecast: energy analysts of business society believe that the recent shock and rebound in crude oil prices, light trading in the domestic ship fuel market, limited ship refueling business in some areas due to rainfall and typhoon, weak terminal shipping demand and great upward resistance. It is expected that the fuel oil 180CST market will be stable in the near future.