According to the data of business agency, as of April 17, the average price of domestic fuel oil 180CST was 6320.00 yuan / ton (including tax), down 1.10% from 6390.00 yuan / ton on April 11.

On April 17, the fuel oil commodity index was 128.00, unchanged from yesterday, down 2.32% from the highest point 131.04 in the cycle (2022-03-24), and up 177.78% from the lowest point 46.08 on August 15, 2016. (Note: the period refers to the period from September 1, 2011 to now)

The rise of international crude oil prices and the high price of domestic marine oil raw materials support the cost of fuel oil 180CST. According to the business news agency, as of April 17, the self raised low sulfur quotation of 180 CST fuel oil and 120 CST fuel oil in Zhoushan area was 6300 yuan / ton, and the self raised low sulfur quotation of 6400 yuan / ton; The quotation of 180 CST self extracting low sulfur fuel oil in Shanghai is 6350 yuan / ton, and the quotation of 120 CST self extracting low sulfur fuel oil is 6450 yuan / ton.

International crude oil prices rose, and the market heard that the EU might draft a bill banning the import of Russian oil. The expectation of oil product shortage caused by the conflict between Russia and Ukraine surfaced again, and the oil price was strongly supported. The escalating geopolitical situation between Russia and Ukraine has led to the rise of oil prices. Under the background of the war between Russia and Ukraine, Russia, as the world’s second largest oil exporter, has been expected to be interrupted due to Western sanctions, and the price trend of crude oil market has risen.

Singapore’s fuel oil inventory decreased, which supported fuel oil prices. It is understood that the Singapore enterprise development authority (ESG): as of the week of April 13, Singapore’s fuel inventory fell by 845000 barrels to a three-month low of 19591000 barrels; Singapore’s medium distillate stocks rose 588000 barrels to a five week high of 7.615 million barrels; Singapore’s light distillate stocks fell 1.573 million barrels to a four month low of 11.076 million barrels.

Future forecast: the international crude oil price is rising, the cost of ship fuel market is high, affected by the epidemic, the transportation of ship fuel market is blocked, the market demand is low, the downstream goods are prepared carefully, the demand is just needed, and the market wait-and-see mood is strong. At present, the market price of fuel oil 180CST low sulfur is about 6300 yuan / ton, and the market price of fuel oil 120cst low sulfur is about 6400 yuan / ton. It is expected that the fuel oil 180CST market may be dominated by consolidation in the near future.