According to the commodity analysis system of SunSirs, the 180CST fuel oil market in East China remained stable at the end of November. As of November 28th, the average price of 180CST fuel oil in China was 5,350.00 RMB/ton (including tax), which was stable compared to November 27th.

According to SunSirs, the slight increase in international crude oil prices on the 28th boosted the domestic ship fuel market; The downstream coastal shipping market has weakened its demand for transportation, and bulk cargo prices continue to decline. Shipowners' demand for oil replenishment is mainly driven by urgent needs. According to Business News Agency, as of November 28th, the self pickup low sulfur quotation for 180CST fuel oil in Dalian area of China National Fuel Oil Corporation is 5,540 RMB/ton, and the self pickup low sulfur quotation for 120CST fuel oil is 5,640 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.

In terms of international fuel oil, the Singapore Enterprise Development Board (ESG) reported that as of the week ending November 26, Singapore's fuel oil inventories rose by 191,000 barrels to a two-week high of 24.709 million barrels; The inventory of light distillate oil was 13.524 million barrels, a decrease of 898,000 barrels from the previous week and a two-week low.

Market forecast: Currently, the international crude oil market is volatile, increasing the wait-and-see sentiment in the domestic ship and fuel market. The terminal shipping market is weak, and the situation of more ships and less cargo is difficult to change. Shipowners mainly need small orders to replenish oil urgently. At present, the self extracted low sulfur quotation for 180CST fuel oil is 5,100-5,550 RMB/ton, and the self extracted low sulfur quotation for 120CST fuel oil is 5,200-5,650 RMB/ton. It is expected that the fuel oil 180CST market will experience weak consolidation in the near future.

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