According to the data of business agency, as of November 14, the average price of domestic fuel oil 180CST was 5320.00 yuan / ton (including tax), down 6.99% from 5720.00 yuan / ton on November 8.

On November 14, the fuel oil commodity index was 107.75, the same as yesterday, down 13.35% from the highest point 124.35 in the cycle (2021-10-26), and up 133.83% from the lowest point 46.08 on August 15, 2016. (Note: the period refers to the period from September 1, 2011 to now)

The downward price of domestic marine oil raw materials has limited support for fuel oil 180CST. According to the business news agency, as of November 14, the self raised low sulfur quotation of 180 CST fuel oil in Zhoushan area was 5350 yuan / ton, and the self raised low sulfur quotation of 120 CST fuel oil was 5450 yuan / ton; The quotation of 180 CST self extracting low sulfur fuel oil in Shanghai is 5100 yuan / ton, and the quotation of 120 CST self extracting low sulfur fuel oil is 5200 yuan / ton.

International crude oil prices rose and fell this week. On the whole, prices rose slightly. At the macro level, the Federal Reserve tightened its expectations on monetary policy and reduced the scale of bond purchase. In addition, the US Energy Information Administration (EIA) reported yesterday that the US crude oil inventory increased more than expected last week, dragging down oil prices. However, OPEC + maintains a cautious plan to increase production. In the short term, the situation of short supply in the crude oil market may be difficult to improve. Supported by this, oil prices rose this week.

Singapore’s fuel oil inventory decreased, which supported fuel oil prices. It is understood that the Singapore enterprise development authority (ESG): as of the week of November 10, Singapore’s fuel oil inventory decreased by 570000 barrels to a three-week low of 21.749 million barrels; As of the week of November 10, Singapore’s light distillate oil inventory decreased by 515000 barrels to 9.853 million barrels, the lowest in more than two years; As of the week of November 10, Singapore’s medium distillate stocks fell by 460000 barrels to 9.139 million barrels, the lowest in more than three years.

Future forecast: the price of raw materials is down, the cost support of ship fuel market is limited, the market price of ship fuel continues to decline, the overall trading is light, the inventory of some enterprises is under pressure, the terminal destocking is mainly, the downstream procurement is cautious, and the wait-and-see mood is strong. The market price of fuel oil 180CST low sulfur is about 5100-5400 yuan / ton, and the market price of fuel oil 120cst low sulfur is about 5200-5500 yuan / ton, A single discussion. It is expected that the fuel oil 180CST market may be dominated by weakness in the near future.