According to the data of business agency, as of December 31, the average price of domestic fuel oil 180CST was 5240.00 yuan / ton (including tax), up 1.35% from 5170.00 yuan / ton on December 27.
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On December 31, the fuel oil commodity index was 106.13, unchanged from yesterday, down 14.65% from the highest point of 124.35 in the cycle (2021-10-26), and up 130.32% from the lowest point of 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 December 31, the self raised low sulfur quotation of 180 CST fuel oil and 120 CST fuel oil in Zhoushan area was 5350 yuan / ton, and the self raised low sulfur quotation of 5450 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.
The rise in international crude oil prices this week has led to the rapid spread of Omicron mutant virus, but the symptoms seem to be milder than the previous variants; The market hopes that Omicron will weaken its impact on global demand in 2022 and oil prices will be supported. The main reason is that Saudi Arabia believes that oil supply is still very scarce. In addition, although the epidemic trend is still serious, the symptoms of omiron infected people are relatively mild, which brings some optimism to the market.
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 December 29, Singapore’s fuel oil storage fell by 1371000 barrels to a two-and-a-half month low of 19564000 barrels. Singapore’s light distillate stocks fell 517000 barrels to a five week low of 11.505 million barrels. Singapore’s medium distillate stocks fell 26000 barrels to a three week low of 7.896 million barrels.
Future forecast: the rising international crude oil price and the high cost price in the ship fuel market support the ship fuel market, but the terminal demand is general, the wait-and-see mood is strong, the transaction is light, and the purchase is just needed. The market price of fuel oil 180CST low sulfur is about 5200-5350 yuan / ton, and the market price of fuel oil 120cst low sulfur is 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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