According to the commodity analysis system of SunSirs, the overall price of 180CST fuel oil in East China increased slightly last week. As of September 28th, the average price of 180CST fuel oil in China was 5,475.00 RMB/ton (including tax), an increase of 0.69% from the price of 5,437.50 RMB/ton on September 22nd.

According to Business News, the recent rise in international crude oil prices has boosted the domestic ship fuel market, with domestic ship fuel blending raw material prices rising and ship fuel costs supporting it; The freight rates in the downstream coastal shipping market have risen, and the demand for pre holiday oil replenishment by ship owners has increased, but the overall demand is average. According to Business News Agency, as of September 28th, the self pickup low sulfur quotation for 180CST fuel oil in Dalian area of China National Chemical Corporation is 5,550 RMB/ton, and the self pickup low sulfur quotation for 120CST fuel oil is 5,650 RMB/ton; The self extracted low sulfur quotation for 180CST fuel oil in the Shanghai area is 5,350 RMB/ton, and the self extracted low sulfur quotation for 120CST fuel oil is 5,450 RMB/ton.

The rise in crude oil prices last week was mainly due to the potential supply risk caused by the continuation of the Russia-Ukraine conflict, and the possible escalation of the US sanctions against some oil producing countries, which combined with the decline of the US commercial crude oil inventory to jointly support oil prices.

In terms of international fuel oil, the Singapore Enterprise Development Board (ESG) reported that as of the week ending September 24th, Singapore's fuel oil inventories decreased by 2.606 million barrels to a 13 week low of 22.804 million barrels. Singapore's middle distillate oil inventory decreased by 240,000 barrels to a 4-week low of 9.479 million barrels. Singapore's light distillate oil depots have risen by 250,000 barrels, reaching a 5-week high of 14.616 million barrels.

Currently, downstream shipping market freight rates are declining, transportation demand is falling, and ship owners are in urgent need of refueling. At present, the self extracted low sulfur quotation for 180CST fuel oil is 5,300-5,550 RMB/ton, and the self extracted low sulfur quotation for 120CST fuel oil is 5,400-5,650 RMB/ton. It is expected that the fuel oil 180CST market will mainly consolidate in the near future.

If you have any enquiries or purchasing needs, please feel free to contact SunSirs with support@sunsirs.com.