China Fuel Oil Prices Continue to Rise Amid Tight Supplies

China's domestic 180CST fuel oil prices have continued to rise, according to SunSirs' commodity analysis system. As of August 30, the average price for 180CST fuel oil stood at 6,412.50 RMB/ton (tax-inclusive), a 0.98% increase from the 6,350.00 RMB/ton recorded on August 24.

The recent decline in international crude oil prices has led to a 'wait-and-see' sentiment in the domestic marine fuel market, but tight supplies of blending feedstocks have driven prices upward, providing support to the market.

In the marine bunkering sector, demand for vessels in the coastal shipping market remains weak, with shipowners operating cautiously and focusing on small-volume refueling to meet immediate needs. As of August 30, China Marine Bunker (PetroChina) quoted low-sulfur 180CST fuel oil at 6,730 RMB/ton and low-sulfur 120CST fuel oil at 6,830 RMB/ton for ex-warehouse pickup in Dalian; in Shanghai, the quotes were 6,200 RMB/ton for low-sulfur 180CST and 6,300 RMB/ton for low-sulfur 120CST.