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SunSirs: China Fuel Oil Market Fell slightly on July 28

July 29 2020 10:52:31     SunSirs (Selena)

Trade name: fuel oil 180CST

Latest price (July 28, 2020): 3,762 RMB/ ton

On July 28, the price of fuel oil was 3,762 RMB/ ton, which was stable on the whole. On one hand, international crude oil prices continued to keep above $40/barrel, forming a certain support for fuel oil prices. It is understood that WTI 09 contract crude oil closed at $41.65/ barrel on the July 27; on the other hand, COVID-19 epidemic situation is still not optimistic, and the international market demand for marine fuel is still weak, which is negative for the fuel oil market. However, the domestic trade demand is relatively stable, and at present the domestic fuel market is overall stable. At present, the low sulfur price of 180 CST fuel oil depot in Hebei area of China Fuel Oil Co., Ltd. is 3,700 RMB/ ton, and that of 120 CST fuel oil depot is 3,800 RMB/ ton.

Market forecast: China fuel market is expected to be stable in the short term.

 

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