According to the commodity analysis system of SunSirs, the 180CST fuel oil market in East China slightly fell last week. As of June 27th, the average price of 180CST fuel oil in China was 5,525.00 RMB/ton (including tax), a decrease of 0.23% from the 5,537.00 RMB/ton price on June 23rd.

According to the Business Society, last week, due to a significant drop in the international crude oil market, the domestic blended raw material prices fell, which limited the cost support for the domestic ship fuel market. The downstream shipping market saw an increase in coastal bulk cargo prices, and ship owners gradually replenished oil. However, terminal demand support was limited, and ship owners operated cautiously, with a focus on meeting essential needs. According to Business News Agency, as of June 27th, the self pickup low sulfur quotation for 180cst fuel oil in Dalian area of China National Chemical Corporation is 5,650 RMB/ton, and the self pickup low sulfur quotation for 120cst fuel oil is 5,750 RMB/ton; The self extracted low sulfur quotation for 180cst fuel oil in the Shanghai area is 5,450 RMB/ton, and the self extracted low sulfur quotation for 120cst fuel oil is 5,550 RMB/ton.

Last week, the crude oil market prices fell sharply. The crude oil market fluctuates greatly, mainly due to the impact of the geopolitical situation in the Middle East. As the situation cools down, crude oil prices have dropped significantly.

In terms of international fuel oil, the Singapore Enterprise Development Board (ESG) reported that as of the week ending June 25th, Singapore's fuel oil inventories rose by 997,000 barrels to a two-week high of 22.5 million barrels; The inventory of light distillate oil increased by 715,000 barrels, reaching a two-week high of 13.329 million barrels; The inventory of medium distillate oil decreased by 857,000 barrels, reaching a three week low of 10.363 million barrels.

The recent decline in crude oil prices has limited support for the domestic marine fuel market; The ship supply market and shipping market are mainly driven by urgent needs for transactions, and the market operates cautiously with a strong wait-and-see attitude. At present, the self extracted low sulfur quotation for 180cst fuel oil is 5,450-5,700 RMB/ton, and the self extracted low sulfur quotation for 120cst fuel oil is 5,550-5800 RMB/ton. It is expected that the fuel oil 180CST market will mainly consolidate in the near future.

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