On May 20, the domestic fuel oil market underwent a period of consolidation. The quoted price for 180cst low-sulfur fuel oil (ex-tank) ranged from 5,800 to 6,300 RMB/ton, while the quote for 120cst low-sulfur fuel oil (ex-tank) ranged from 5,900 to 6,400 RMB/ton.

In the spot market, domestic quotes for 180cst low-sulfur fuel oil (ex-tank) stood at 5,800–6,300 RMB/ton on May 20, and quotes for 120cst low-sulfur fuel oil (ex-tank) were at 5,900–6,400 RMB/ton; spot prices remained stable at elevated levels. Regarding futures, the benchmark fuel oil contract (2609) on the Shanghai Futures Exchange closed the day at 4,173 RMB/ton—an increase of 79 RMB/ton compared to the previous trading day. Trading volume reached 254,400 lots, with open interest standing at 243,440 lots—an increase of 15,793 lots. Both near-month and far-month contracts generally closed higher; market sentiment leaned bullish, providing support for prices and creating an overall positive outlook.

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