According to the data of business agency, as of December 11, the average price of domestic fuel oil 180CST was 3800.00 yuan / ton (including tax), a slight increase of 1.67% compared with the beginning of the week.
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On December 11, the fuel oil commodity index was 76.96, flat with yesterday, down 33.60% from 115.91 (October 17, 2018), and 67.01% higher than 46.08, the lowest point on August 15, 2016. (Note: period refers to 2011-09-01 to now)
As of December 11, the price of 180 CST fuel oil was supported by the rise of domestic marine oil raw materials. According to the business agency, as of December 11, the self lifting low sulfur quotation of 180 CST fuel oil in Zhoushan area was 3750 yuan / ton; that of 120 CST fuel oil was 3850 yuan / ton; that of Shanghai area was 3850 yuan / ton; that of 120 CST fuel oil was 3950 yuan / ton.
This week, the international crude oil price fluctuates to rise, forms the support to the fuel oil price. WTI crude oil closed at $46.78/barrel on the 11th, up 1.12% from $46.26/barrel at the beginning of the week, according to the business news agency.
Singapore’s fuel oil inventory decreased and support for fuel oil increased. It is understood that Singapore Enterprise Development Council (ESG): in the week ending December 9, Singapore’s fuel oil storage fell by 3.39 million barrels to 22.361 million barrels, a three week low.
Aftermarket forecast: the energy analysts of the business agency believe that the raw material cost of fuel oil 180CST is supported, but the downstream demand is weak and the terminal transaction is limited. Generally speaking, it is expected that the fuel oil 180CST market will remain stable in the short term.
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