According to the data of business agency, as of January 16, the average price of domestic fuel oil 180CST was 5270.00 yuan / ton (including tax), up 0.57% from 5240.00 yuan / ton on January 1.
On January 16, the fuel oil commodity index was 106.73, unchanged from yesterday, down 14.17% from the highest point 124.35 in the cycle (2021-10-26), and up 131.62% from the lowest point 46.08 on August 15, 2016. (Note: the period refers to the period from September 1, 2011 to now)
The rising price of domestic marine oil raw materials supports the cost of fuel oil 180CST. According to the business news agency, as of January 16, the self raised low sulfur quotation of 180 CST fuel oil in Zhoushan area was 5200 yuan / ton, and the self raised low sulfur quotation of 120 CST fuel oil was 5300 yuan / ton; The quotation of low sulfur for 180 CST fuel oil in Shanghai is 5350 yuan / ton, and the quotation of low sulfur for 120 CST fuel oil is 5450 yuan / ton.
International crude oil prices have risen. Although the epidemic situation in Europe and the United States is still severe, the symptoms seem to be milder than the previous variants, and the trend of oil prices has risen; In addition, the production increase plan of the organization of Petroleum Exporting Countries and its allies (OPEC +) was implemented, the relatively conservative policy was in line with market expectations, and the oil price was supported. Some geopolitical factors such as the interruption of supply in Libya, the unrest in Kazakhstan and some political factors affect the supply expectation, and the international oil price has received some support.
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Singapore’s increased fuel stocks have limited support for fuel oil prices. It is understood that the Singapore enterprise development authority (ESG): as of the week of January 12, Singapore’s fuel inventory increased by 1.285 million barrels to a seven week high of 22.34 million barrels. Singapore’s light distillate oil inventory increased by 590000 barrels, reaching a three-and-a-half month high of 13.652 million barrels. Singapore’s medium distillate stocks fell 976000 barrels to an 8-year low of 7.17 million barrels.
Future forecast: the rising price of raw materials in the ship fuel market supports the ship fuel market, but the terminal procurement is light, the transaction just needs to be purchased, and it is mainly wait-and-see. Today, the price of fuel oil 180CST rose and fell. The low sulfur market price of fuel oil 180CST was about 5200-5350 yuan / ton, and the low sulfur market price of fuel oil 120cst was about 5300-5450 yuan / ton. It is expected that the fuel oil 180CST market will remain stable in the near future.
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