According to the commodity analysis system of SunSirs, the 180CST fuel oil market in East China fluctuated and consolidated last week, with a slight overall decline. As of May 19th, the average price of 180CST fuel oil in China was 5,462.50 RMB/ton (including tax), a decrease of 0.14% from the 5,470.00 RMB/ton price on May 12th.

According to SunSirs, the domestic market for ship fuel raw materials fell last week, and the cost of ship fuel was weak. The market situation also fell, and the support for downstream shipping market terminal demand was limited. Shipowners mainly needed to replenish oil. According to Business News Agency, as of May 19th, the self pickup low sulfur quotation for 180cst fuel oil in Dalian area of China National Chemical Corporation is 5,580 RMB/ton, and the self pickup low sulfur quotation for 120cst fuel oil is 5,680 RMB/ton; The self extracted low sulfur quotation for 180cst fuel oil in the Shanghai area of China National Fuel Oil Corporation is 5,250 RMB/ton, and the self extracted low sulfur quotation for 120cst fuel oil is 5,350 RMB/ton.

Last week, the overall crude oil market rose, influenced by the United States' increased oil restrictions on a certain country, as well as the Israeli Palestinian conflict and the intention of China and the United States to negotiate. The international oil price trend rose, and with the easing of tariffs between China and the United States, the crude oil market was mainly volatile.

In terms of international fuel oil, the Singapore Enterprise Development Board (ESG) reported that as of the week ending May 14th, Singapore's fuel oil inventories decreased by 1.156 million barrels to a 9-week low of 19.387 million barrels; The inventory of medium distillate oil increased by 984,000 barrels, reaching a 7-week high of 9.893 million barrels; The inventory of light distillate oil decreased by 195,000 barrels, reaching a two-week low of 13.233 million barrels.

Market forecast: The recent rise in crude oil prices will provide support for the domestic ship fuel market; The supply market and shipping market have improved, but the main demand for oil replenishment by ship owners is still urgent. At present, the self extracted low sulfur quotation for 180cst fuel oil is 5,250-5,500 RMB/ton, and the self extracted low sulfur quotation for 120cst fuel oil is 5,350-5,600 RMB/ton. It is expected that the fuel oil 180CST market will mainly consolidate in the near future.

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