The price of fuel oil 180CST rose slightly this week (8.30-9.5)

According to the data of business agency, as of September 5, the average price of domestic fuel oil 180CST was 4625.00 yuan / ton (including tax), up 0.27% from 4612.50 yuan / ton on August 30.

On September 5, the fuel oil commodity index was 93.67, unchanged from yesterday, down 19.19% from the highest point of 115.91 in the cycle (October 17, 2018), and up 103.28% from the lowest point of 46.08 on August 15, 2016( Note: period refers to the period from September 1, 2011 to now)

The rise of domestic marine oil raw materials supports the cost of fuel oil 180CST. According to the business agency, as of September 5, the price of 180 CST fuel oil and 120 CST fuel oil in Zhoushan was 4650 yuan / ton and 4750 yuan / ton respectively; The quotation of 180 CST self extracting low sulfur fuel oil in Shanghai is 4600 yuan / ton, and the quotation of 120 CST self extracting low sulfur fuel oil is 4700 yuan / ton.

The rise of international crude oil was mainly due to the expected warming of global economic recovery and favorable U.S. economic data. In addition, the organization of Petroleum Exporting Countries (OPEC) raised its oil demand forecast for next year, resulting in a strong increase in oil prices.

Singapore’s fuel oil inventory decreased, which supported fuel oil prices. It is understood that Singapore enterprise development authority (ESG): as of the week of September 1, Singapore’s fuel oil inventory decreased by 483000 barrels to a more than six-month low of 20.7 million barrels.

Future forecast: the rise of international crude oil, the rise of domestic raw material prices and the limited supply of raw materials have boosted the ship fuel wholesale market, the downstream demand has increased, the market is just in demand, the price has increased slightly, and the overall trading is light. Waiting for a new round of raw material volume price guidance. It is expected that the fuel oil 180CST market may rise steadily in the near future.