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Fuel Oil Price Today. 17th October, 2024.

image shows vlsfo and hsfo price movements

Srinivas Chowdary Sunkara

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Fuel Oil Price Today as on 17th October, 2024

Fuel oil key graded product prices flat on Thursday in Asia at Singapore trading hub. VLSFO spot premiums fell on Wednesday due to easing Nov offers from previous session along with looming supply arrivals to Asia. VLSFO cash premiums dipped after rising to more than a two week high on Tuesday as offers softened for loading dates in early November. HSFO cash premiums largely stable though backwardation widened at the prompt trading months. Refining cracks for fuel oil closed higher on Wednesday following declines in crude prices.

Turning to other markets, Crude oil prices are moving down as monthly oil reports painted bearish picture on demand outlook . FO prices increased in India while LDO prices went up in India for the second half of October, 2024.

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