As of December 22, the average 180CST price of domestic fuel oil was 4007.50 yuan / ton (including tax), down 0.93% from the beginning of the week, according to the data of business news agency.

On January 22, the fuel oil commodity index was 81.16, unchanged from yesterday, down 29.98% from 115.91 (October 17, 2018), the highest point in the cycle, and up 76.13% from 46.08, the lowest point on August 15, 2016. (Note: period refers to the period from September 1, 2011 to now)

Domestic marine oil raw materials support the cost of fuel oil 180CST. According to the business news agency, as of January 22, the self provided low sulfur quotation of fuel oil 180CST in Zhoushan area was 4000 yuan / T; the self provided low sulfur quotation of fuel oil 120cst was 4100 yuan / T; the self provided low sulfur quotation of fuel oil 180CST in Shanghai area was 3950 yuan / T; and the self provided low sulfur quotation of fuel oil 120cst was 4050 yuan / T.

This week, the international crude oil price fluctuated downward, and the support for fuel oil price was limited. WTI crude oil prices rose 1.35% this week, while Brent crude oil prices rose 1.81% this week.

Singapore’s fuel oil inventory has decreased and its support for fuel oil has increased. It is understood that Singapore enterprise development board (ESG): in the week ending January 20, Singapore’s light distillate inventory decreased by 126000 barrels to a two-week low of 15.488 million barrels; Singapore’s medium distillate inventory increased by 604000 barrels to a three week high of 15.158 million barrels; Singapore’s fuel oil inventory decreased by 305000 barrels to a three week low of 21.999 million barrels. On January 19, Fukuang shale oil tender launched a total of 7000 tons of shale oil with a trading volume of 7000 tons. The weighted average price was 2658 yuan / ton, up 202 yuan / ton.

Future forecast: business community energy analysts believe that the fuel oil 180CST market is in a strong wait-and-see mood in the near future, the downstream demand is light, and the terminal purchase is mainly on demand. On the whole, it is expected that the fuel oil 180CST market will be stable in the short term.