FUEL OIL MARKET UPDATE AND ANALYSIS
Today, Fuel oil markets rebounded and spiked on lower supplier offers. Fuel Oil 180 CST grade prices were up by $5.5 or 1.37% spike at $406 as on today from previous closing price. Yesterday physical cargoes of 380 in the Singapore trading window weighed on cash premiums of the mainstay fuel due to lack of buying interest despite lower supplier offers relative to previous session. Stronger bids for 180 cSt fuel oil cargoes pushed cash differentials of the fuel higher on Thursday but failed to result in any deals.