According to the data of business agency, as of November 20, the average price of domestic fuel oil 180CST was 3637.50 yuan / ton (including tax), a slight increase of 1.39% compared with the beginning of the week.
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On November 20, the fuel oil commodity index was 73.67, up 1.01 points compared with yesterday, 36.44% lower than 115.91 points (October 17, 2018), and 59.87% higher than 46.08 points, the lowest point on August 15, 2016. (Note: period refers to 2011-09-01 to now)
According to the business agency, as of November 20, the self raised low sulfur price of 180 CST fuel oil in Zhoushan, 3700 yuan / ton in 120 CST, 3750 yuan / ton in Shanghai and 3850 yuan / ton in 120 CST.
International crude oil prices rose sharply this week, supporting fuel oil prices. WTI crude oil closed at $41.90/barrel on the 20th, up 4.41% from $40.13/barrel at the beginning of the week, according to business agency monitoring.
Singapore’s fuel oil inventory decreased from the previous week, forming a certain support for fuel oil. It is understood that as of November 18, Singapore’s inventory of residual fuel oil, including fuel oil and low sulfur waxy residual oil, decreased by 1044000 barrels to 22.02million barrels, a nine week low; light distillate stocks including naphtha, gasoline and reformate oil decreased by 918000 barrels to 12.434 million barrels, a three-week low; and medium distillate stocks decreased by 492000 barrels to 16.093 million barrels, a two-week low low point.
Aftermarket forecast: the energy analysts of the business agency believe that the fuel oil 180CST raw material cost increases due to the seasonal impact, which forms a certain support for the fuel oil market. Overall, it is expected that the fuel oil 180CST market will be stable and upward in the short term.
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