Track the latest insights on fuel oil price trend and forecast with detailed analysis of regional fluctuations and market dynamics across Europe, North America, Middle East & Africa, Asia Pacific, and Latin America.
Product
|
Category | Region | Price |
---|---|---|---|
Fuel Oil | Others | USA | 2280 USD/MT |
Fuel Oil | Others | China | 750 USD/MT |
Fuel Oil | Others | Germany | 1110 USD/MT |
During the last quarter of 2024, the fuel oil prices in the USA reached 2280 USD/MT in December. Fuel oil prices performed steadily, supported by consistent demand from the shipping and home industries. Regular exports to Latin America provided additional support for the ongoing refinery activity along the Gulf Coast. The market exhibited considerable calmness in comparison to global price dynamics, despite the introduction of minor headwinds from seasonal shifts and increased use of renewable fuels.
During the last quarter of 2024, the fuel oil prices in China reached 750 USD/MT in December. As per the fuel oil price chart, the consumption decreased, which fueled pessimism in the market. Prices remained defensive as a result of regional refinery capacity expansion that increased supply pressure. Any long-term price recovery was constrained by China's slower economic momentum, which was a major factor in reducing demand.
During the last quarter of 2024, the fuel oil prices in Germany reached 1110 USD/MT in December. Germany’s fuel oil market softened amid a weaker industrial climate and heightened focus on environmental compliance. The transition toward sustainable energy alternatives led to declining traditional fuel use. However, certain fuel oil types especially high-sulfur variants used by ships with scrubbers remained in demand.
Product
|
Category | Region | Price |
---|---|---|---|
Fuel Oil | Others | USA | 1047 USD/MT |
Fuel Oil | Others | China | 758 USD/MT |
Fuel Oil | Others | Germany | 1237 USD/MT |
The fuel oil prices in the USA reached 1047 USD/MT in December 2023.
In December 2023, the priced of fuel oil in China settled at 758 USD/MT.
In Germany, the fuel oil price reached 1237 USD/MT by the end of December 2023.
The report provides a detailed analysis of the market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of FOB and CIF prices, as well as the key factors influencing the fuel oil price trend.
The report offers a holistic view of the global fuel oil pricing trends in the form of fuel oil price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights current price levels but also provides insights into historical price of fuel oil, enabling stakeholders to understand past fluctuations and their underlying causes. The report also delves into price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed fuel oil demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.
Q4 2024:
As per the fuel oil price index, market had muted pace as demand was reduced by economic conservatism and dwindling industrial activity. Prices gradually decreased as a result of stricter environmental regulations and a gradual move toward alternate energy sources. However, the ongoing use of high-sulfur fuel classes by ships with exhaust-cleaning systems provided support for them. Reduced imports from Russia and rerouted cargo movements also caused sporadic supply problems, which briefly firmed prices during an otherwise softening period.
European fuel oil prices are examined, highlighting the market-specific influences in the region, such as stringent environmental regulations, the competitive landscape, and import-export imbalances that significantly affect pricing structures.
Detailed price information for fuel oil can also be provided for an extensive list of European countries.
Region | Countries Covered |
---|---|
Europe | Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal, and Greece, among other European countries. |
Q4 2024:
Global volatility was lessened by steady local industrial activity and consistent shipping petroleum requirements at significant ports. Conditions were excellent throughout the US Gulf Coast, where market balance was maintained by strong refining throughput and continuous shipments to Latin America. Although seasonal volatility and renewable alternatives periodically slowed the pace, the region generally remained well-positioned. International market fluctuations were less significant than domestic fundamentals, which kept price variations in check.
The analysis of fuel oil prices in North America delves into the regional industry dynamics, encompassing the impact of local production and the trade flows between North America and other significant global markets.
Specific fuel oil historical data within the United States and Canada can also be provided.
Region | Countries Covered |
---|---|
North America | United States and Canada |
The report explores the fuel oil pricing trends and fuel oil price chart in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.
Region-wise data and information on specific countries within these regions can also be provided.
Region | Countries Covered |
---|---|
Middle East & Africa | Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco, among other Middle Eastern and African countries. |
Q4 2024:
A combination of changing market pressures caused significant fluctuations in fuel oil prices throughout Asia. Large economies' slower-than-anticipated recovery reduced industrial consumption, while China's waning appetite and more extensive regional refinery expansions put pressure on values. However, brief price hikes happened when Middle Eastern unrest was at its highest. In hubs like Singapore and South Korea, the demand for naval fuel, especially bunker-grade fuel oil, temporarily increased as a result of these geopolitical tensions disrupting regular trade routes and lengthening voyages.
The fuel oil pricing trends in the Asia Pacific are examined, reflecting the role of the region as a major global producer and consumer of agricultural products, with price dynamics heavily influenced by supply chain efficiencies, regional demand surges, and policy shifts in major economies.
This fuel oil price analysis can be expanded to include a comprehensive list of countries within the region.
Region | Countries Covered |
---|---|
Asia Pacific | China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand, among other Asian countries. |
Latin America's fuel oil market is predominantly influenced by its rich natural reserves, particularly in countries like Chile and Brazil. However, political instability and inconsistent regulatory frameworks can lead to significant volatility in fuel oil prices. Infrastructure challenges and logistical inefficiencies often impact the supply chain, affecting the region's ability to meet international demand consistently. Moreover, the fuel oil price index, economic fluctuations, and currency devaluation are critical factors that need to be considered when analyzing fuel oil pricing trends in this region.
This comprehensive review can be extended to include specific countries within Latin America.
Region | Countries Covered |
---|---|
Latin America | Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru, among other Latin American countries. |
IMARC's latest publication, “Fuel Oil Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2025 Edition,” presents a detailed examination of the fuel oil market, providing insights into both global and regional trends that are shaping prices. This report delves into the spot price of fuel oil at major ports and analyzes the composition of prices, including FOB and CIF terms. It also presents a detailed fuel oil price trend analysis by region, covering North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The factors affecting fuel oil pricing, such as the dynamics of supply and demand, geopolitical influences, and sector-specific developments, are thoroughly explored. This comprehensive report helps stakeholders stay informed with the latest market news, regulatory updates, and technological progress, facilitating informed strategic decision-making and forecasting.
The global fuel oil market size reached USD 196.76 Billion in 2024. By 2033, IMARC Group expects the market to reach USD 269.6 Billion, at a projected CAGR of 3.38% during 2025-2033.
The report covers the latest developments, updates, and trends impacting the global fuel oil industry, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in fuel oil production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the fuel oil price trend.
Latest developments in the fuel oil industry:
Fuel oil is a fraction obtained from petroleum distillation, either as a distillate or a residue. It is known for its high energy content and is a critical energy source for various industrial and commercial applications. It comes in various types like heavy fuel oil (HFO), marine gas oil (MGO), intermediate fuel oil (IFO), light fuel oil (LFO), residual fuel oil, and distillate fuel oil.
Its chemical and physical properties include density (0.85 to 1.00 g/cm³), boiling point (175 to 600°C), flash point (60 to 93°C for lighter oils, over 120°C for heavier oils), and sulfur content (between 0.5% and 3.5%). The manufacturing process of fuel oil involves multiple steps like distillation, cracking, blending, desulfurization, and hydroprocessing.
It is used in power generation, marine transportation, industrial boilers, residential heating, backup generators, asphalt production, chemical manufacturing, agricultural dryers, mining operations, and railway locomotives. Fuel oil is lauded for its high energy density, cost-effectiveness, reliability, versatility, high efficiency, and easy availability.
Key Attributes | Details |
---|---|
Product Name | Fuel Oil |
Report Features | Exploration of Historical Trends and Market Outlook, Industry Demand, Industry Supply, Gap Analysis, Challenges, Fuel Oil Price Analysis, and Segment-Wise Assessment. |
Currency/Units | US$ (Data can also be provided in local currency) or Metric Tons |
Region/Countries Covered | The current coverage includes analysis at the global and regional levels only. Based on your requirements, we can also customize the report and provide specific information for the following countries: Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand* Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece* North America: United States and Canada Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru* Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco* *The list of countries presented is not exhaustive. Information on additional countries can be provided if required by the client. |
Information Covered for Key Suppliers |
|
Customization Scope | The report can be customized as per the requirements of the customer |
Report Price and Purchase Option |
Plan A: Monthly Updates - Annual Subscription
Plan B: Quarterly Updates - Annual Subscription
Plan C: Biannually Updates - Annual Subscription
|
Post-Sale Analyst Support | 360-degree analyst support after report delivery |
Delivery Format | PDF and Excel through email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Benefits for Stakeholders: