According to the data of business agency, as of February 13, the average price of domestic fuel oil 180CST was 5640.00 yuan / ton (including tax), up 2.55% from 5500.00 yuan / ton on February 7.

On February 13, the fuel oil commodity index was 114.23, unchanged from yesterday, down 8.14% from the highest point of 124.35 in the cycle (2021-10-26), and up 147.89% 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 shortage of domestic marine oil raw materials and the rising price support the cost of fuel oil 180CST. According to the business news agency, as of February 13, the self raised low sulfur quotation of 180 CST fuel oil and 120 CST fuel oil in Zhoushan area was 5900 yuan / ton, and the self raised low sulfur quotation of 120 CST fuel oil was 6000 yuan / ton; The quotation of 180 CST self extracting low sulfur fuel oil in Shanghai is 5650 yuan / ton, and the quotation of 120 CST self extracting low sulfur fuel oil is 5750 yuan / ton.

Tensions between Russia and Ukraine have escalated, adding to concerns about tight global energy supplies. In addition, the International Energy Agency (IEA) warned that unless OPEC’s major oil producing countries in the Middle East increase production, the global oil price may rise further, because it is difficult for the OPEC alliance to resume production for a “long time”, and the crude oil price has risen to a seven-year high of more than $90 a barrel. Due to the rebound in demand after the epidemic, the global supply lags behind, and the oil inventory is at the lowest level in seven years, Crude oil prices rose. The situation in Ukraine and Russia is tense, and multiple factors affect the rise of international oil prices.

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 February 9, Singapore’s fuel inventory decreased by 929000 barrels to a three-week low of 22.156 million barrels; Singapore’s medium distillate oil inventory decreased by 774000 barrels to a four week low of 7.436 million barrels; Singapore’s light distillate stocks fell 1.428 million barrels to a two-week low of 14.302 million barrels.

Future forecast: the high international crude oil price supports the ship fuel market. The price of raw materials and refined oil in the ship fuel market rises, and the tight supply boosts the fuel oil price. However, the terminal demand is light, the purchasing sentiment is general, and it is mainly wait-and-see. The market price of fuel oil 180CST low sulfur is about 5600-5900 yuan / ton, and the market price of fuel oil 120cst low sulfur is about 5650-5950 yuan / ton. It is a single discussion. It is expected that the fuel oil 180CST market may continue to rise in the near future.