According to the data of business agency, as of November 21, the average price of domestic fuel oil 180CST was 5150.00 yuan / ton (including tax), down 2.28% from 5270.00 yuan / ton on November 15.

On November 21, the fuel oil commodity index was 104.30, unchanged from yesterday, down 16.12% from the highest point of 124.35 in the cycle (2021-10-26), and up 126.35% 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 downward price of domestic marine oil raw materials has limited support for fuel oil 180CST. According to the business news agency, as of November 21, 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 5050 yuan / ton, and the quotation of 120 CST self extracting low sulfur fuel oil is 5150 yuan / ton.

International oil prices fell one after another. According to the monitoring of business news agency, WTI crude oil fell by 6.97% and Brent crude oil fell by 4.80%. Although the U.S. commercial crude oil inventory data was positive last week, the main concern was the epidemic in Europe and the United States wanted to release strategic crude oil reserves with major economies. The short market atmosphere still put pressure on oil prices.

Singapore’s fuel oil inventory decreased, which supported fuel oil prices. It is understood that Singapore enterprise development authority (ESG): as of the week of November 17, Singapore’s fuel oil storage fell 393000 barrels to a more than one month low of 21.356 million barrels. Singapore’s light distillate oil depot increased by 1357000 barrels to a three week high of 11.21 million barrels. Singapore’s medium distillate oil depot rose 23000 barrels to a two-week high of 9.162 million barrels.

Future forecast: crude oil has fallen sharply, which is bad for the ship fuel market. The market has a strong bearish mentality, cautious downstream procurement and strong wait-and-see mood. The market price of fuel oil 180CST low sulfur is about 5000-5300 yuan / ton, and the market price of fuel oil 120cst low sulfur is about 5100-5400 yuan / ton. It is expected that the fuel oil 180CST market may have a downward trend in the near future.