:: Bunkering --- ID :: 14718
Fueloil today:180 CST prices slid
losing buying interest?

By Srinivas Chowdary Sunkara // petrobazaar // 6-2-18

FUEL OIL PRICE TODAY

PORT

IFO 380

IFO 180

Singapore

383.00

414.00

Rotterdam

363.50

391.50

Fujairah

383.50

435.00

Busan

411.00

431.00


FUEL OIL MARKETS UPDATE

Today, Fuel oil prices extended losses for the third day in a row. Both 180 cSt and 380 cSt graded fuel prices are descent, valued at $414 and $383 respectively  with 1.65% loss at the time of reporting. Limited buying interest for physical cargoes, resulted in no deals being reported in the Singapore trading window as on Friday. Sentiment in Asia's fuel oil market has been weighed down by sluggish demand and expectation of ample near-term supplies as per the trading sources.

Crude oil markets are trading in red zone with bearishness lingering across the market. Additional rigs into U.S market, U.S output spree, weak financial markets and seasonal downturn in demand are the factors pushing down the oil prices. 

courtesy:bunkerindex