According to the commodity analysis system of SunSirs, the 180CST fuel oil market in East China has slightly increased after the Spring Festival. As of February 26, the average price of 180CST fuel oil in China was 5,400.00 RMB/ton (including tax), an increase of 0.47% from the price of 5,375.00 RMB/ton on February 23.

According to SunSirs, after the Spring Festival, the domestic market for ship fuel blended raw materials remained stable with a moderate upward trend, with low inventory and support from ship fuel costs, resulting in a slight increase in ship fuel prices; The downstream terminal bulk freight rates have slightly increased, and ship owners are actively dispatching ships, with a focus on meeting the urgent need for oil replenishment. According to SunSirs, as of February 26th, the self pickup low sulfur quotation for 180cst fuel oil in Dalian area of China National Fuel Oil Corporation is 5,500 RMB/ton, and the self pickup low sulfur quotation for 120cst fuel oil is 5,600 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.

During the Spring Festival, international crude oil prices rose mainly due to the dual impact of geopolitical tensions and fundamental changes, with the upgrading of US Iran relations becoming the core driving factor. After the Spring Festival, the market is paying attention to the prospects of the US Iran talks. Iran expressed its hope to reach a fair agreement with the US in the shortest possible time, ease concerns, and reduce international oil prices.

In terms of international fuel oil, the Singapore Enterprise Development Board (ESG) reported that as of the week ending February 25th, Singapore's fuel oil inventories rose by 103,000 barrels to a two-week high of 22.632 million barrels; Singapore's light distillate oil inventory decreased by 2.19 million barrels, reaching a four week low of 17.284 million barrels.

Currently, the international crude oil market is declining, and the wait-and-see sentiment in the domestic ship fuel market is increasing; Terminal enterprises are resuming work, the shipping market is gradually recovering, and ship owners are mainly replenishing oil for urgent needs. At present, the self extracted low sulfur quotation for 180cst fuel oil is 5,250-5,450 RMB/ton, and the self extracted low sulfur quotation for 120cst fuel oil is 5,350-5,550 RMB/ton. It is expected that the fuel oil 180CST market will mainly consolidate in the near future.

SunSirs has been continuously tracking price data for over 200 commodities for nearly 20 years, please contact support@sunsirs.com for subscription.