China domestic fuel oil 180CST price up (11.23-11.27)

According to the data of business agency, as of November 27, the average price of domestic fuel oil 180CST was 3737.50 yuan / ton (including tax), a slight increase of 2.75% compared with the beginning of the week.


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On November 27, the fuel oil commodity index was 75.70, up 1.52 points compared with yesterday, 34.69% lower than 115.91 points (October 17, 2018), and 64.28% 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 27, the self raised low sulfur price of 180 CST fuel oil in Zhoushan, 3800 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 US $45.71/barrel on the 27th, up 7.76% from US $42.42/barrel at the beginning of the week.


Singapore’s fuel stocks increased and support for fuel oil weakened. It is understood that Singapore Enterprise Development Council (ESG): in the week ending November 25, Singapore’s fuel oil inventory increased by 2.036 million barrels to 24.038 million barrels, a five week high.


Aftermarket forecast: the energy analysts of business agency believe that crude oil rose sharply, and the raw material cost of fuel oil 180CST was supported, but the downstream demand was weak. Generally speaking, it is expected that the fuel oil 180CST market will rise steadily in the short term.