According to the commodity analysis system of SunSirs, the 180CST fuel oil market in East China has slightly increased this week. As of July 31, the average price of 180CST fuel oil in China was 5,312.50 RMB/ton (including tax), an increase of 0.71% from the 5,275.00 RMB/ton price on July 25.

According to Business News Agency, this week's international crude oil market has risen, which is favorable for the domestic ship fuel market. The rise in domestic residual oil market has supported the cost of the domestic ship fuel market, and downstream shipping market freight rates are mainly stable. Shipowners have limited oil replenishment and are cautious in their operations, with a focus on meeting the urgent needs of transactions. According to Business News Agency, as of July 31st, the self pickup low sulfur quotation for 180cst fuel oil in Dalian area of China National Fuel Oil Corporation is 5,470 RMB/ton, and the self pickup low sulfur quotation for 120cst fuel oil is 5,570 RMB/ton; The self extracted low sulfur quotation for 180cst fuel oil in the Shanghai area of China National Fuel Oil Corporation is 5,100 RMB/ton, and the self extracted low sulfur quotation for 120cst fuel oil is 5,200 RMB/ton.

The crude oil market prices have risen this week. The main reason is that the United States has reached a new trade agreement with the European Union, and the United States may impose new sanctions on Russia. Additionally, concerns about US tariffs continue to weaken, and crude oil prices continue to rise and fall.

In terms of international fuel oil, the Singapore Enterprise Development Board (ESG) reported that as of the week ending July 23, Singapore's fuel oil inventories rose 314,000 barrels to a two-week high of 23.699 million barrels; The inventory of light distillate oil rose by 737,000 barrels to a four week high of 12.971 million barrels; The inventory of medium distillate oil decreased by 1.192 million barrels to a 76 week low of 7.87 million barrels.

The recent rise in crude oil prices is favorable for the domestic ship fuel market; The ship supply market and shipping market are mainly driven by urgent needs for transactions, and the market operates cautiously with a strong wait-and-see attitude. 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 remain stable in the near future.

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