Zhuochuang Information: Tight Supply and Demand Supports Residual Oil Prices Stable and Slightly Strong

K-LinePoet · 2026-03-16T14:14:57+00:00

After the holiday, the residual fuel oil market is steady and moving upward. Yesterday, Shandong low-sulfur residual fuel oil was 4,140 yuan/ton, flat compared to pre-holiday levels; medium-sulfur residual fuel oil was 3,880 yuan/ton, up 55 yuan/ton or 1.44% compared to pre-holiday levels. Crude oil is trading with oscillations and stronger momentum, providing some support from the cost side. The residual fuel oil market's supply side shows overall tightness, with downstream demand-driven purchases as the main factor, smooth shipments from refineries, and slight upward pressure on residual fuel oil prices. Zhuo Chuang Information expects the oil market to maintain high volatility in the near term, with certain support from news flow. The residual fuel oil market's tight supply expectations may support stronger price performance; however, downstream coking profit margins are being squeezed, which constrains the upside potential. (Zhuo Chuang Information)

K-LinePoet

2026-03-16 14:14:57

Post-holiday residual oil market remains steady with a slight upward trend. Yesterday, Shandong low-sulfur residual oil was priced at 4140 yuan/ton, unchanged from before the holiday; medium-sulfur residual oil was 3880 yuan/ton, up 55 yuan/ton or 1.44%. Crude oil fluctuated with a slight strength, providing some support on the cost side. Overall, the residual oil market supply is relatively tight, with downstream mainly purchasing for immediate needs. Refineries are shipping smoothly, leading to a slight increase in residual oil prices. Zhuochuang Information expects the oil market to remain volatile at high levels in the near future, with certain support from news factors. The expectation of tight residual oil supply may support stronger prices, but downstream coking profit margins are being squeezed, limiting upward potential. (Zhuochuang Information)

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