As of December 25, the average price of domestic fuel oil 180CST was 3,990.00 RMB/ ton (including tax), up 0.69% from the beginning of the week, according to the data of SunSirs.
On December 25, the fuel oil commodity index was 80.81, up 0.25 points from the previous day, down 30.28% from 115.91 points (October 17, 2018), the highest point in the cycle, and up 75.37% from 46.08 points, the lowest point on August 15, 2016. (Note: period refers to the period from September 1, 2011 to now)
In the process of continuous improvement of international crude oil market, it was reported that mutated virus had been found in the UK, and most cities in the UK had implemented strict City closure measures. A number of countries suspended air traffic with the UK, and the demand for crude oil significantly restrained. Last week, international crude oil prices had a correction. Last week, WTI crude oil prices fell 2.05% and Brent crude oil prices fell 1.76%.
Singapore's fuel oil inventory has increased, with limited support for fuel oil. It is understood that the Singapore enterprise development board (ESG): in the week ending December 23, fuel oil stocks decreased by 2.435 million barrels to a one-year low of 20.394 million barrels. On December 22, Fukuang shale oil tender launched a total of 9,000 tons of shale oil with a turnover of 3,900 tons. The weighted average price was 2,841 RMB/ ton, up 80 RMB/ ton.
SunSirs 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 limited, and the terminal purchase is mainly on demand. On the whole, it is expected that China fuel oil 180CST market will be stable in the short term.
