According to the Commodity Analysis System of SunSirs, the recent high price consolidation of domestic fuel oil 180CST has resulted in an average price of 5,764.00 RMB/ton (including tax) as of April 24th, an increase of 0.24% from the price of 5,750.00 RMB/ton on April 15th.

According to the SunSirs, as of April 24th, the self pickup low sulfur quotation for fuel oil 180CST in the Dalian area of CNOOC is 6,100 RMB/ton, and the self pickup low sulfur quotation for fuel oil 120CST is 6,200 RMB/ton; The self extraction low sulfur price for fuel oil in the Shanghai area of CNOOC is 5,720 RMB/ton for 180CST, and 5,820 RMB/ton for 120CST self extraction low sulfur fuel oil.

The crude oil market first fell and then rose, mainly due to the unexpected increase in US crude oil inventories, weakened demand expectations, and the flattening of conflict risk premiums. On the one hand, the risk of conflict in the Middle East region has decreased, and the market expects that the possibility of US sanctions on Iran's oil exports escalating has also decreased. As the market's concerns slow down, the positive international oil supply has dissipated, to some extent smoothing out the risk premium of crude oil. On the other hand, the signals released by the Federal Reserve to the market have led investors to generally worry that the interest rate cut cycle may not arrive so quickly; In addition, a report released by the US Energy Information Agency (EIA) on Wednesday, April 17th, showed a significant increase in US crude oil inventories last week.

In terms of international fuel oil, it is reported that Singapore Enterprise Development Group (ESG): As of the week ending April 17th, Singapore's fuel inventory increased by 1.182 million barrels, reaching an 8-week high of 22.186 million barrels. Singapore's medium distillate oil inventory decreased by 1.072 million barrels to a three week low of 10.136 million barrels; The inventory of light distillate oil decreased by 2.305 million barrels to a nearly three-month low of 13.753 million barrels.

The international crude oil trend is volatile, and the domestic mixed raw material prices first rise and then fall. Currently, the market view of procurement is cautious, with a focus on demand; In the shipping market, the increase in bulk freight rates is favorable for the ship fuel market. However, currently the ship fuel market has high prices, and many merchants mainly require small orders. At present, the low sulfur market price of fuel oil 180CST is around 5,700-6,100 RMB/ton, and the low sulfur market price of fuel oil 120CST is around 5,800-6,200 RMB/ton, which can be negotiated separately. It is expected that the fuel oil 180CST market will mainly consolidate at a high level in the near future.

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