HSFO and VLSFO price trends by Srinivas Chowdary Sunkara as on 13th July, 2023.
HSFO price rally since beginning of the month halted while VLSFO prices continued to soften at Singapore trading window. Falling demand from power generation from South Asia and decreased imports from China snapped HSFO price rally. 0.5% VLSFO cash premiums extended its downtrend. Furnace oil (FO) retail selling prices are expected to revise up for the second half of July.
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