| Product |
Category |
Region |
Price |
Last Updated Month |
| Fuel Oil |
Operating Costs, Logistics and Utilities |
China |
761 USD/MT |
October 2025 |
| Fuel Oil |
Operating Costs, Logistics and Utilities |
China |
757 USD/MT |
December 2025 |
Asia
The Asian fuel oil market during the fourth quarter exhibited fluctuating price patterns characterized by mixed directional movements and range-bound trading. The prices were about 761 USD/MT (Spot) in October and around 757 USD/MT in December in China. The period opened with prices experiencing a modest decline as blending raw material costs softened and terminal shipping market demand remained sluggish. Through mid-quarter, prices demonstrated volatility with alternating periods of weakness and recovery as domestic freight rates provided intermittent support while cost pressures from blending components remained limited.
The market navigated competing influences, including crude oil price fluctuations that increased wait-and-see sentiment among participants, while shipowners maintained predominantly small-order purchasing patterns driven by urgent replenishment needs rather than inventory building. Coastal bulk cargo freight rates showed variable performance throughout the period, with northern port closures due to weather conditions occasionally redirecting refuelling demand southward.
The latter portion of the quarter saw continued mixed price action as rising crude oil quotations provided periodic support, though weak blending raw material markets and subdued downstream coastal shipping demand created offsetting pressures. Regional inventory levels at major storage hubs demonstrated gradual accumulation, reflecting adequate supply availability.
Europe
European fuel oil markets during the fourth quarter demonstrated inconsistent patterns influenced by broader crude oil market volatility and regional supply-demand dynamics. The market absorbed varying signals from international crude price movements, geopolitical developments, and refinery operational considerations. Atlantic Basin supply conditions remained adequate throughout the period, with regional inventory positions supporting market stability. Demand from the marine bunker and industrial sectors showed typical seasonal characteristics, while blending activity adjusted to prevailing economic conditions and feedstock availability. Market participants maintained cautious positioning amid mixed fundamental signals and macroeconomic uncertainties.
North America
North American fuel oil markets experienced variable conditions during the fourth quarter, tracking broader petroleum product market dynamics. Regional supply adequacy from refinery output and import flows supported stable availability, while demand patterns reflected typical seasonal variations across heating oil and industrial consumption segments. Market sentiment responded to crude oil price volatility and evolving fundamental considerations, with participants adjusting positions based on inventory levels and forward demand expectations.
Analyst Insight
According to Procurement Resource, fuel oil prices are expected to maintain range-bound patterns as weak blending raw material costs and modest demand limit upside potential.
