Fuel Oil Price Today as on 1st October, 2024
Fuel oil benchmarks traded lower on last day of September month. Spot premiums for both the fuel oil grades softened while refining cracks largely rangebound. VLSFO markets showed signs of easing for the dates at the end of Oct on supply replenishment.
VLSFO cash premiums pegged lower at $9.5/Mt while HSFO 380 cSt Singapore spot premiums pegged below $14 per Mt on Monday. Spot benchmarks for 380 cSt HSFO also showed a sign of softening amid lower priced offers for the dates in the 2HOct.
Turning to other markets, Crude oil markets moving cautiously on positive sentiment buoyed up by reentry of investors into markets with some bearish short positions and building bullish one. FO and LDO prices are expected to increase in India for the first half of October, 2024.
