According to the data of business agency, as of August 14, the average price of domestic fuel oil 180CST was 6520.00 yuan / ton (tax included), up 0.15% from 6510.00 yuan / ton on August 8.

On August 14, the fuel oil commodity index was 132.05, which was the same as yesterday, down 2.69% from the highest point 135.70 in the cycle (June 21, 2022), and up 186.57% from the lowest point 46.08 on August 15, 2016. (Note: the period refers to September 1, 2011 to now)

The rise of international crude oil prices is supported by the cost of ship fuel market. According to the business news agency, as of August 14, the price of 180CST fuel oil from Zhoushan region of China National combustion Corporation was 6550 yuan / ton, and the price of 120cst fuel oil from Zhoushan region was 6650 yuan / ton; In Shanghai, the price of 180 CST self extracting low sulfur fuel oil is 6500 yuan / ton, and the price of 120 CST self extracting low sulfur fuel oil is 6600 yuan / ton.

International crude oil prices rose, and US gasoline inventories fell sharply last week; In addition, the International Energy Agency (IEA) raised the growth forecast of oil demand this year, and the data level eased the expected pressure of demand decline caused by economic recession; Combined with the soaring price of natural gas, the demand for oil as an alternative energy has been boosted. On the other hand, gasoline stocks in the United States have dropped significantly; In addition, the CPI data of the United States in July showed that inflation was lower than expected and risk appetite improved, boosting the upward trend of oil prices.

The decrease of fuel oil inventory in Singapore supports the price of fuel oil. It is understood that Singapore enterprise development authority (ESG): as of the week of August 10, Singapore’s fuel oil storage fell by 939000 barrels, to the lowest level since July 2019, reaching 17.07 million barrels; Light distillate oil inventories rose 250000 barrels to reach a two-week high of 17.667 million barrels; Medium distillate stocks fell by 964000 barrels to a two-week low of 7.402 million barrels.

Future forecast: the rise of international crude oil will boost the ship fuel market. At present, the domestic ship fuel market is mainly on a wait-and-see basis, with light transactions, limited terminal demand and just need to purchase. This week, the overall price of ship fuel market remained stable. At present, the market price of 180CST low sulfur fuel oil is about 6500 yuan / ton, and the market price of 120cst low sulfur fuel oil is about 6600 yuan / ton, which is a single discussion. It is expected that the fuel oil 180CST market will be sorted out in the near future.