According to the commodity analysis system of SunSirs, the 180CST fuel oil market in East China slightly declined in mid August, but overall it slightly rose. As of August 19th, the average price of 180CST domestic fuel oil was 5,275.00 RMB/ton (including tax), a decrease of 0.94% from the price of 5,325.00 RMB/ton on August 11th.

According to Business News Agency, the international crude oil market fluctuated in mid August, increasing the wait-and-see sentiment in the domestic ship fuel market. Domestic ship fuel blending raw material prices remained stable, while thinner prices fell slightly, and ship fuel costs loosened; The downstream shipping market has seen a slight increase in coastal freight rates, but ship owners have limited oil replenishment and transactions are mainly driven by essential needs. According to Business News Agency, as of August 19th, 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 5,050 RMB/ton, and the self extracted low sulfur quotation for 120CST fuel oil is 5,150 RMB/ton.

The crude oil prices fluctuated in mid August, mainly due to the market waiting for the results of the US Russian leaders' meeting, and the geopolitical situation is still expected to further ease.

In terms of international fuel oil, the Singapore Enterprise Development Board (ESG) reported that as of the week ending August 13th, Singapore's fuel oil inventories decreased by 1.674 million barrels to a 3-week low of 24.645 million barrels; The inventory of light distillate oil increased by 1.234 million barrels, reaching a 16 week high of 14.24 million barrels; The inventory of medium distillate oil increased by 653,000 barrels, reaching a 5-week high of 9.326 million barrels.

The rise in crude oil prices will boost the domestic ship fuel market, and ship fuel blended raw materials will remain stable with a moderate upward trend; 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 5,100-5,500 RMB/ton, and the self extracted low sulfur quotation for 120CST fuel oil is 5,200-5,600 RMB/ton. It is expected that the fuel oil 180CST market will mainly consolidate in the near future.

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