According to the data of business agency, as of April 24, the average price of domestic fuel oil 180CST was 6320.00 yuan / ton (including tax), which was stable compared with the price on April 18.

On April 24, the fuel oil commodity index was 128.00, unchanged from yesterday, down 2.32% from the highest point 131.04 in the cycle (2022-03-24), and up 177.78% from the lowest point 46.08 on August 15, 2016. (Note: the period refers to the period from September 1, 2011 to now)

The international crude oil price fluctuated at a high level, and the high price of domestic marine oil raw materials supported the cost of fuel oil 180CST. According to the business news agency, as of April 24, the self raised low sulfur quotation of 180 CST fuel oil in Zhoushan area was 6300 yuan / ton, and the self raised low sulfur quotation of 120 CST fuel oil was 6400 yuan / ton; The quotation of 180 CST self extracting low sulfur fuel oil in Shanghai is 6350 yuan / ton, and the quotation of 120 CST self extracting low sulfur fuel oil is 6450 yuan / ton.

The international crude oil price fluctuates, the market is intertwined, the global economic recovery slows down, the Fed’s interest rate hike is expected to rise, and the domestic epidemic suppresses demand, so the oil price is under pressure. On the other hand, the EU is considering imposing an oil ban on Russia, tightening supply expectations, limiting the decline in oil prices, and the recent crude oil price range has fluctuated.

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 April 20, Singapore’s fuel oil inventory increased by 3.512 million barrels to a more than one month high of 23.103000 barrels; Singapore’s medium distillate oil inventory increased by 1.408 million barrels to a more than four month high of 9.023 million barrels; Singapore’s light distillate inventories increased by 1.922 million barrels to a three week high of 12.998 million barrels.

Future forecast: the international crude oil price fluctuates, and the cost of ship fuel market is high. Affected by the epidemic, the transportation of ship fuel market is blocked, the market is just in need, and the wait-and-see mood is strong. At present, the market price of fuel oil 180CST low sulfur is about 6300 yuan / ton, and the market price of fuel oil 120cst low sulfur is about 6400 yuan / ton. It is expected that the fuel oil 180CST market may be dominated by consolidation in the near future.