According to the commodity analysis system of SunSirs, the 180CST fuel oil market in East China has slightly declined this week. As of July 24th, the average price of 180CST fuel oil in China was 5,275.00 RMB/ton (including tax), a decrease of 0.94% from the 5,325.00 RMB/ton price on July 20th.

According to the Business Society, this week, due to the decline in the international crude oil market, there has been a strong wait-and-see attitude in the ship fuel market. The slight increase in domestic blended raw material prices has supported the cost of the domestic ship fuel market. The downstream shipping market has weak and stable coastal bulk freight rates, and ship owners have limited oil replenishment. They are cautious in their operations and mainly deal with essential needs. According to Business News Agency, as of July 24th, the self pickup low sulfur quotation for 180cst fuel oil in Dalian area of China National Chemical Corporation is 54,70 RMB/ton, and the self pickup low sulfur quotation for 120cst fuel oil is 5,570 RMB/ton; The self extracted low sulfur quotation for 180cst fuel oil in the Shanghai area of China National Fuel Oil Corporation is 5,000 RMB/ton, and the self extracted low sulfur quotation for 120cst fuel oil is 5,100 RMB/ton.

The crude oil market prices have fallen this week. The main reason is that the EU has strengthened sanctions against Russia, and there are still concerns about demand caused by US tariff policies, resulting in a continuous decline in crude oil prices.

In terms of international fuel oil, the Singapore Enterprise Development Board (ESG) reported that as of the week ending July 23, Singapore's fuel oil inventories rose 314,000 barrels to a two-week high of 23.699 million barrels; The inventory of light distillate oil rose by 737,000 barrels to a four week high of 12.971 million barrels; The inventory of medium distillate oil decreased by 1.192 million barrels to a 76 week low of 7.87 million barrels.

The recent decline in crude oil prices will provide 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 5,050-5,500 RMB/ton, and the self extracted low sulfur quotation for 120cst fuel oil is 5,050-5,600 RMB/ton. It is expected that the fuel oil 180CST market will experience weak consolidation in the near future.

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