Fuel oil prices today rose across the Singapore market. VLSFO prices up $12/mt to $589 per mt. LSMGO prices went up $3 to $712 per Mt while HSFO prices rose $10/mt to $509 per mt at the Singapore trading window.
VLSFO spot premiums extended down fall on increasing selling interest. The Singapore cash premium traded lowered at $1 per Mt. Market structure remained softened as the backwardation narrowed amid ample supplies. HSFO markets steadied during recent sessions. A recent rally has pared on expectation of more supply replenishment. Turning to other markets, Crude oil prices remained flat today as investors preferred to wait for key data. Furnace oil and LDO prices are set to change for every fortnight in India.
