Trade name: fuel oil 180CST
Latest price (October 14, 2020): 3587.50 yuan / ton
| EDTA 2Na |
Analysis points: on October 14, the price of fuel oil was 3587.50 yuan / ton, and the market was weak and stable. On the one hand, cost is mainly negative. The international crude oil price fluctuates in a narrow range around $40 / barrel, which weakens the support for fuel oil. It is understood that WTI crude oil closed at $40.18/barrel on November 13. On the other hand, the demand is still low in the short term, and the epidemic situation of Xinguan in foreign countries is becoming more and more serious. Fuel inventory has increased, and supply side pressure is high. It is understood that, as of October 7, Singapore’s residual fuel oil inventory, including fuel oil and low sulfur waxy residual oil, increased by 190000 barrels to 24.237 million barrels, light distillate stocks including naphtha, gasoline and reformate oil increased by 215000 barrels to 13.781 million barrels, and medium distillate stocks decreased by 433000 barrels to 14.835 million barrels.
Aftermarket forecast: the fuel market is expected to continue the weak atmosphere in the short term.
| EDTA |