According to the data of the SunSirs, As of April 19, the average domestic fuel oil price of 180CST was 4,487.50 RMB/ton (tax included), up 0.56% compared with 4462.50 RMB/ton on April 12.
On April 19, the fuel oil commodity index was 90.89, 0.51 points higher than yesterday, 21.59% lower than the highest point of 115.91 (2018-10-17) in the cycle, and 97.24% higher than the lowest point of 46.08 on August 15, 2016. (Note: Period refers to 2011-09-01 to present)
Domestic bunker oil raw materials rise to fuel oil 180CST cost support. According to the SunSirs to understand, As of April 19, CNGC Zhoushan fuel oil 180CST self-lifting low sulfur price of 4,400 RMB/ton, 120CST self-lifting low sulfur fuel oil price of 4,500 RMB/ton; CGC Shanghai fuel oil 180CST self-lifting low sulfur price 4500 RMB/ton, 120CST self-lifting low sulfur fuel oil price 4600 RMB/ton.
The International Energy Bureau ( IEA ) Crude oil demand forecast raised, followed by us energy information administration ( EIA ) U.S. crude oil inventories fell for the third consecutive week, boosting optimistic expectations of a recovery in energy demand, according to inventory data.
The increase in Singapore's fuel stocks has limited support for fuel oil prices. It is understood that Singapore's enterprise development board (ESG): as of the week of April 15, Singapore's inventory of residual fuel oil (excluding asphalt), including fuel oil and low sulfur waxy residual oil, increased by 337000 barrels to a four month high of 23.958 million barrels. During the week, inventories of light distillates, including naphtha, gasoline and reformate, increased by 146000 barrels to a four week high of 14740000 barrels. For the week, distillate stocks climbed 475,000 barrels to a three-week high of 13.431 million barrels.
Future forecast: Energy analysts at the SunSirs say higher crude oil prices are driving up feedstock prices, Domestic fuel oil 180CST cost support, the market to push up the intention to increase, but the current ship combustion market downstream demand downturn, terminal procurement on demand, weak turnover, rising resistance is large, downstream replenishing cautious, more wait-and-see attitude. The recent fuel oil price is expected to stabilize 180CST upward.
