SunSirs: Fuel oil 180CST price down slightly this week (5.24-5.30)
June 01 2021 08:37:52 SunSirs (HU)
According to the data of the SunSirs, as of May 30, the average price of domestic fuel oil 180CST was 4675.00 RMB/ton (including tax), down 0.27% from 4687.50 RMB/ton on May 17.
On May 30, the commodity price index BPI was 1047 points, flat with yesterday, down 2.06% from the highest point of 1069 (2021-05-13) in the cycle, and up 58.64% from the lowest point of 660 points on February 03, 2016. (Note: Period refers to 2011-12-01 till now)
Domestic bunker oil raw materials fall back on fuel oil 180CST support limited. According to the understanding of the business community, as of May 30, the Zhoushan area of fuel oil 180CST self-lifting low sulfur quotation of 4600 RMB/ton, 120CST self-lifting low sulfur fuel oil quotation of 4700 RMB/ton; CGC Shanghai fuel oil 180CST self-lifting low sulfur price of 4,700 RMB/ton, 120CST self-lifting low sulfur fuel oil price of 4,800 RMB/ton.
Oil prices rose sharply as talks between the U.S. and Iran continued to drive sentiment, but initially rose amid fears of an oil field shutdown in the Gulf of Mexico due to a storm and disagreement over sanctions relief in Iran.
Singapore fuel stocks reduced, fuel oil prices to support the limit. Singapore's fuel oil inventories fell by 2.085 million barrels in the week ended May 26 to 22.875 million barrels, the lowest level in more than two months, according to ESG.
Future forecast: SunSirs energy analysts believe that fuel oil 180CST price is stable shortly, market trading is light, terminal shipping demand is weak, downstream purchasing enthusiasm is not high, mainly purchasing on-demand, and rising resistance are large. Business raw material procurement enthusiasm is not high, market trading is depressed, the recent fuel oil 180CST market is expected to hold steady.
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