SunSirs: China Domestic Fuel Oil 180CST Price Went Up (November 23-27)
November 30 2020 10:53:59 SunSirs (Selena)
According to the data of SunSirs, as of November 27, the average price of domestic fuel oil 180CST was 3,737.50 RMB/ ton (including tax), a slight increase of 2.75% compared with the beginning of the week.
On November 27, the fuel oil commodity index was 75.70, up 1.52 points from the previous day, 34.69% lower than 115.91 points (October 17, 2018), and 64.28% higher than 46.08 points, the lowest point on August 15, 2016. (Note: period refers to 2011-09-01 to now)
According to SunSirs, as of November 27, the self raised low sulfur price of 180 CST fuel oil of CNMC Zhoushan was 3,700 RMB/ ton; that of 120 CST fuel oil was 3,800 RMB/ ton; that of Shanghai of China fuel oil Shanghai was 3,750 RMB/ ton; that of 120 CST fuel oil was 3,850 RMB/ ton.
Last week, international crude oil prices rose sharply, supporting fuel oil prices. WTI crude oil closed at US $45.71/ barrel on the 27th, up 7.76% from US $42.42/ barrel at the beginning of the week.
Singapore's fuel stocks increased and support for fuel oil weakened. It is understood that Singapore Enterprise Development Council (ESG): as of November 25, Singapore's fuel oil inventory increased by 2.036 million barrels to 24.038 million barrels, a five week high.
SunSirs energy analysts believe that crude oil rose sharply, and the raw material cost of fuel oil 180CST was supported, but the downstream demand was weak. Generally speaking, it is expected that China fuel oil 180CST market will rise steadily in the short term.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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