Fuel oil 180CST price decreased slightly this week (8.1-8.7)

According to the data of business agency, as of August 7, the average price of domestic fuel oil 180CST was 6490.00 yuan / ton (tax included), down 0.31% from 6510.00 yuan / ton on August 1.



On August 7, the fuel oil commodity index was 131.44, which was the same as yesterday, 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 the business news agency, as of August 7, the price of 180CST fuel oil from Zhoushan region of China National combustion Corporation was 6550 yuan / ton, and the price of 120cst fuel oil from Zhoushan region was 6650 yuan / ton; In Shanghai, the price of 180 CST self extracting low sulfur fuel oil is 6500 yuan / ton, and the price of 120 CST self extracting low sulfur fuel oil is 6600 yuan / 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 32000 barrels to a 12 week low of 18.014 million barrels. Singapore’s medium distillate stocks increased by 1.122 million barrels to a six week high of 8.366 million barrels. Singapore’s light fraction oil depot reduced 604000 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 6500 yuan / ton, and the market price of 120cst low sulfur fuel oil is about 6600 yuan / ton, which is a single discussion. It is expected that the 180CST market of fuel oil will be dominated by weakness in the near future.


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>