According to the data of business news agency, the average price of domestic fuel oil 180CST was 6620.00 yuan / ton (including tax) as of July 10, down 0.30% from 6640.00 yuan / ton on July 4.

On July 10, the fuel oil commodity index was 134.08, unchanged from yesterday, down 1.19% from 135.70, the highest point in the cycle (2022-06-21), and up 190.97% from 46.08, the lowest point on August 15, 2016. (Note: the period refers to 2011-09-01 to now)

The international crude oil price fell as a whole, and the cost support of ship fuel market was limited. According to the business news agency, as of July 10, the quotation of 180CST self extracting low sulfur fuel oil in Zhoushan area of zhongran was 6650 yuan / ton, and the quotation of 120cst self extracting low sulfur fuel oil was 6750 yuan / ton; The quotation of 180CST self extracting low sulfur fuel oil in Shanghai is 6550 yuan / ton, and the quotation of 120cst self extracting low sulfur fuel oil is 6650 yuan / ton.

The international crude oil price fell. Affected by high inflation and interest rate hike, the risk of economic recession will put pressure on oil prices. The game point of the future market is the supply shortage caused by geography and the economic recession risk that may be derived from the Fed’s interest rate hike. Taking into consideration, under the premise of tight supply and demand, the driving force of sharp decline is not very strong, but the oil market may intensify the shock in the future, the amplitude will increase, and the market risk will also increase.

The increase in fuel oil inventories in Singapore has limited support for fuel oil prices. It is understood that Singapore enterprise development authority (ESG): as of the week of July 6, Singapore’s fuel oil inventory increased by 640000 barrels to a four week high of 21.408 million barrels. Singapore’s medium distillate stocks fell by 259000 barrels to a four week low of 7.671 million barrels. Singapore’s light distillate oil inventory increased by 1.61 million barrels to 16.839 million barrels, the highest level since September 2020.

Aftermarket forecast: international crude oil fell as a whole this week, domestic ship fuel market costs fell, and suppliers’ shipments were blocked; The terminal demand of the market is weak, the receiving of goods is limited, and the overall transaction in the market is light, mainly just need to purchase. At present, the low sulfur market price of fuel oil 180CST is about 6600 yuan / ton, and the low sulfur market price of fuel oil 120cst is about 6700 yuan / ton, which is a single discussion. It is expected that the fuel oil 180CST market may be dominated by weakness in the near future.