According to the commodity analysis system of SunSirs, the 180CST fuel oil market in East China slightly declined last week. As of April 18th, the average price of 180CST fuel oil in China was 5,500.00 RMB/ton (including tax), a decrease of 0.18% from the 5,510.00 RMB/ton price on April 14th.

According to the SunSirs, last week's decline in the price of blended raw materials for ship fuel has limited support for the domestic ship fuel market. Downstream shipping markets have seen an increase in coastal bulk freight rates, but this has limited support for terminal demand, with ship owners mainly meeting their urgent needs for oil replenishment. According to Business News Agency, as of April 18th, the self pickup low sulfur quotation for 180cst fuel oil and 120cst fuel oil in the Dalian area of China National Chemical Corporation is 5,520 RMB/ton and 5,620 RMB/ton, respectively; The self extracted low sulfur quotation for 180cst fuel oil in the Shanghai area of China National Fuel Oil Corporation is 5,300 RMB/ton, and the self extracted low sulfur quotation for 120cst fuel oil is 5,400 RMB/ton.

Last week, the trend of crude oil prices rose, and the US sanctions against Iran continued. Some oil producing countries submitted compensation plans for overproduction, coupled with the weakening of the US dollar, international oil prices rose.

In terms of international fuel oil, the Singapore Enterprise Development Board (ESG) reported that as of the week ending April 16th, Singapore's fuel oil inventories rose by 866,000 barrels, reaching a 17 week high of 22.887 million barrels; Singapore's light distillate oil inventory decreased by 1.478 million barrels, reaching a 19 week low of 14.492 million barrels; The inventory of medium distillate oil increased by 364,000 barrels, reaching a 3-week high of 9.714 million barrels.

The recent rise in crude oil prices will provide support for the domestic ship fuel market; In the shipping market, transactions are generally average, with a focus on essential needs. At present, the self extracted low sulfur quotation for 180cst fuel oil is 5,300-5,600 RMB/ton, and the self extracted low sulfur quotation for 120cst fuel oil is 5,400-5,700 RMB/ton. It is expected that the fuel oil 180CST market will mainly consolidate in the near future.

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