Fuel Oil Price Today as on 5-7-2024
Fuel oil price today on 5th July, 2024 changed mix in the Singapore market. VLSFO prices down $2 per Mt to $642 per Mt. LSMGO prices $3 per Mt up to $774/mt while HSFO prices went up $2 per mt to $527 per Mt.
Fuel oil markets are well supplied in Asia. VLSFO prices softened on ample supplies. VLSFO spot premiums remain lower on Thursday as offers for prompt loading remained competitive. Onshore inventories and imports to Singapore markets climbed as per the data. price recovery in benchmarks remain capped on ample prompt supplies. Refining margins for VLSFO remain below $11 per barrel for the second consecutive day. HSFO prices firmed amid strong bidding action. The availability of spot supplies continue to limit the strength in the market. In India, HPCL offered 3 HSFO cargoes to be loaded from vizag between July and August. On the other markets, crude oil benchmarks set to close the week with gains in a bullish sentiment. Furnace oil and LDO prices set to change on 16th of July, 2024 in India.
