According to the data of business agency, as of June 19, the average price of 180CST of domestic fuel oil was 6690.00 yuan / ton (including tax), up 2.20% from 6546.00 yuan / ton on June 13.

On June 19, the fuel oil commodity index was 135.49, unchanged from yesterday, hitting a new high in the cycle, up 194.03% from the lowest point of 46.08 on August 15, 2016. (Note: the period refers to the period from September 1, 2011 to now)

The price of international crude oil fell, the bidding price of domestic asphalt and Fukuang shale oil rose, and the cost of ship fuel market supported the price rise. According to the business news agency, as of June 19, the price of 180CST self raised low sulfur fuel oil and 120cst self raised low sulfur fuel oil in Zhoushan was 6700 yuan / ton and 6800 yuan / ton respectively; The price of 180CST self extracting low sulfur fuel oil in Shanghai is 6700 yuan / ton, and the price of 120cst self extracting low sulfur fuel oil is 6800 yuan / ton.

The decline in international crude oil prices is mainly due to the resonance impact of the general decline in the stock market and bulk commodities. Bulk commodity prices are generally at historical highs. Once the market is in trouble, a broad shock correction is inevitable. However, the fundamentals in key areas such as crude oil and agricultural products have not been reversed. In particular, the Russian Ukrainian war has led to tight supply. Therefore, it is expected that it will take time to peak or reverse the downward trend.

Singapore’s fuel oil inventory decreased, supporting fuel oil prices. It is understood that Singapore enterprise development authority (ESG): as of the week of June 15, Singapore’s fuel oil storage fell by 1.228 million barrels to a four week low of 21.194 million barrels. Singapore’s medium distillate oil inventory soared by 1.167 million barrels, hitting an 8-week high of 7.958 million barrels. Singapore’s light distillate oil inventory increased by 691000 barrels, reaching a 15 month high of 15.812 million barrels.

Future forecast: the price of raw materials in the domestic ship fuel market is high, the bidding price of asphalt and Fukuang shale oil is rising, and the cost support price in the ship fuel market is rising, but the market terminal demand is weak, the receiving of goods is limited, and the overall transaction in the market is light. At present, the low sulfur market price of fuel oil 180CST is about 6700 yuan / ton, and the low sulfur market price of fuel oil 120cst is about 6800 yuan / ton. It is a single discussion. It is expected that the 180CST market of fuel oil will be mainly consolidated in the near future.