SunSirs: Fuel Oil 180CST Market Remained Stable This Week (4.26-4.30)

According to the data of business news agency, as of April 30, the average price of domestic fuel oil 180CST was 4487.50 RMB / ton (including tax), which was the same as that on April 26.

On April 30, the fuel oil commodity index was 90.89, down 0.25 points compared with yesterday, down 21.59% compared with the highest point of 115.91 (2018-10-17) in the cycle, and up 97.24% compared with the lowest point of 46.08 on August 15, 2016. (Note: Period refers to 2011-09-01 to present)

Domestic bunker oil raw materials rise to fuel oil 180CST cost support. According to the understanding of the business community, as of April 30, the Zhoushan area of fuel oil 180CST self-lifting low sulfur quotation of 4400 RMB/ton, 120CST self-lifting low sulfur fuel oil quotation of 4500 RMB/ton; CGC Shanghai fuel oil 180CST self-lifting low sulfur price 4500 RMB/ton, 120CST self-lifting low sulfur fuel oil price 4600 RMB/ton.

The sharp rise in international oil prices, the strong performance of US economic data and the weakness of the US dollar, combined with the expectation of demand recovery, outweighed the market's worries about the epidemic situation in India and other places.

Singapore's fuel oil inventory decreased, supporting the price of fuel oil. It is understood that Singapore's enterprise development board (ESG): in the week ending April 28, Singapore's fuel oil inventory fell by 254000 barrels, to a two-week low of 24559000 barrels. Singapore's medium distillate stocks fell 533000 barrels to a more than one-year low of 12954000 barrels. Singapore's light distillate stocks fell 1.087 million barrels to a more than four month low of 12.385 million barrels.

Future forecast: energy analysts of business community have basically stabilized the domestic fuel oil 180CST market price in the near future, with low downstream demand, mainly terminal on-demand procurement, weak transaction and great resistance to rise. Fuel oil 180CST price is expected to be stable in the near future.

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