By Srinivas Chowdary Sunkara // petrobazaar // 1st August, 2017.
Fuel Oil Prices trend
Fuel Oil prices remained strong enough and expected to continue until Q1 2018. July month is considered as the strongest in the year for crude market. WTI crossed a $50 mark after a gain of 9% during the month where as Brent touched new highs at $52.57 after marketing a largest monthly gains of 10% during the month. U.S crude inventories have fallen by 10 percent from their march peaks to 483.4 million barrels. U.S output dipped by 0.2 percent to 9.41 million barrels per day during the week ending July, 21st. altogether created a bullish momentum to move the prices up. Bunker prices are firmer in the primary ports.