According to the data of business agency, as of August 29, the average price of domestic fuel oil 180CST was 46250.00 yuan / ton (including tax), up 0.82% from 4587.50 yuan / ton on August 23.

On August 29, the fuel oil commodity index was 93.67, unchanged from yesterday, down 19.19% from the highest point of 115.91 in the cycle (October 17, 2018), and up 103.28% from the lowest point of 46.08 on August 15, 2016（ Note: period refers to the period from September 1, 2011 to now)

The rise of domestic marine oil raw materials supports the cost of fuel oil 180CST. According to the business news agency, as of August 29, the self raised low sulfur quotation of 180 CST fuel oil in Zhoushan area was 4550 yuan / ton, and the self raised low sulfur quotation of 120 CST fuel oil was 4650 yuan / ton; The quotation of 180 CST self extracting low sulfur fuel oil in Shanghai is 4650 yuan / ton, and the quotation of 120 CST self extracting low sulfur fuel oil is 4750 yuan / ton.

International crude oil rose sharply, mainly due to the decline in U.S. crude oil and refined oil inventories last week, according to the American Petroleum Association (API). After superimposing the peak of China’s epidemic, demand continued to recover, boosting market confidence. In addition, the inventory data regularly released by the U.S. Energy Information Administration (EIA) on Wednesday showed that crude oil inventories fell for the third consecutive week, driving oil prices to continue to rise.

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 August 25, Singapore’s fuel oil inventory decreased by 889000 barrels to a more than six-month low of 21.183 million barrels.

Future forecast: energy analysts of business society believe that the recent sharp rise in international crude oil has delayed the decline of ship fuel market. The ship fuel market continues the weak trend. After a slight rise in prices, it is basically stable. There are few transactions in the market as a whole, light market trading, wait-and-see in the downstream, and just demand is the main demand. It is expected that the fuel oil 180CST market will remain stable in the near future.