According to the data of business agency, as of October 23, the average price of domestic fuel oil 180CST was 3575.00 yuan / ton (including tax), down 0.35% from the beginning of the week.

On October 23, the fuel oil commodity index was 72.41, down 37.53% from 115.91 (October 17, 2018), and 57.14% higher than 46.08, the lowest point on August 15, 2016. (Note: period refers to 2011-09-01 to now)

As of October 23, the support of domestic marine demand and power generation demand for fuel oil 180CST was weakened, and the market was willing to call back. According to the business agency, as of October 23, the self raised low sulfur price of 180 CST fuel oil in Ningbo area was 3550 yuan / ton; that of 120 CST fuel oil was 3600 yuan / ton; that of Shanghai area was 3550 yuan / ton; that of fuel oil was 120 CST The quotation of self lifting low sulfur is 3650 yuan / ton.

This week, the international crude oil price fluctuated and fell, dragging the price of fuel oil. WTI crude oil contract closed at $39.78/barrel on December 23, down 2.79% from $40.92/barrel at the beginning of the week, according to the business agency.

Singapore’s fuel oil inventory decreased from the previous week, forming a certain support for fuel oil. It is understood that as of October 21, Singapore’s stock of residual fuel oil (excluding asphalt), including fuel oil and low sulfur waxy residual oil, decreased by 335000 barrels to 24.317 million barrels, the lowest in nearly two weeks. During the week, inventories of light distillates, including naphtha, gasoline and reformate, fell by 540000 barrels to 13.299 million barrels, the lowest in nearly eight months. Mid distillate stocks fell 312000 barrels in the week to an eight week low of 14.814 million barrels.

Aftermarket forecast: energy analysts of business agency believe that the current severe epidemic situation in Europe and the United States, the prospect of crude oil and fuel oil demand is worrying, forming a negative impact on the later fuel market. However, with the arrival of the domestic cold winter season, the heating power demand may form a certain support for the fuel oil market. Overall, it is expected that the fuel oil 180CST market will continue to be weak in the short term, and there will be an upward opportunity in the medium term.