According to the commodity analysis system of SunSirs, the recent 180CST fuel oil market in East China has slightly declined. As of August 25th, the average price of 180CST domestic fuel oil was 5,287.50 RMB/ton (including tax), a decrease of 0.24% from the price of 5,300.00 RMB/ton on August 18th.

According to Business News Agency, the international crude oil market has been fluctuating and rising recently, which is favorable for the domestic ship fuel market. The overall stability of domestic ship fuel blended raw material prices is the main factor; The downstream shipping market has seen a slight decline in coastal freight rates, with limited oil replenishment by ship owners and a focus on essential needs for transactions. According to Business News Agency, as of August 25th, the self pickup low sulfur quotation for 180cst fuel oil in Dalian area of China National Chemical Corporation is 5,520 RMB/ton, and the self pickup low sulfur quotation for 120cst fuel oil is 5,620 RMB/ton; The self extracted low sulfur quotation for 180cst fuel oil in the Shanghai area of China National Fuel Oil Corporation is 5,200 RMB/ton, and the self extracted low sulfur quotation for 120cst fuel oil is 5,300 RMB/ton.

Recently, crude oil prices have fluctuated and risen. On the one hand, the geopolitical situation in the Middle East has affected the oil market, and the uncertainty of US tariff policies has made the global economic outlook and oil demand pessimistic, putting pressure on crude oil market prices; On the other hand, the traditional fuel peak season in the United States continues to release positive news, supporting the crude oil market.

In terms of international fuel oil, the Singapore Enterprise Development Board (ESG) reported that as of the week ending August 20th, Singapore's residual fuel oil inventory, including fuel oil and low sulfur waxy residue, decreased by 1.61 million barrels to an eight week low of 23.035 million barrels. During the week, the inventory of light distillate oil, including naphtha, gasoline, and reformate, increased by 914,000 barrels to a high of 15.154 million barrels in the 17th week. The inventory of medium distillate oil increased by 371,000 barrels, reaching a six week high of 9.697 million barrels.

The rise in crude oil prices will boost the domestic ship fuel market, supply ship market, shipping freight rates will mainly fluctuate, ship owners will have limited oil replenishment, and transaction demand will be the main factor. 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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