Fuel Oil Price Today as on 30th October, 2024
VLSFO (Very Low Sulphur Fuel Oil) spot premiums eased on Tuesday with increasing flow of stocks in to Asia. Retreating offers for Nov loading dates also weighed on prices. Western Arbitrage barrels, Middle eastern barrels and intra-regional barrels are expected incoming supplies to Asia. This inflex of stocks marked the highest monthly volume to Asia since March as per data. VLSFO cash premiums pegged lower at $10.25 per Mt. HSFO retained its recent strength with prompt month 380-cSt HSFO cracks closing at discounts near $2 a barrel.
Turning to other markets, Crude markets are seen topsy turvy trading amid lack of strong clues. FO prices are expected to go down in India while LDO prices may fell for the first half of Nov, 2024.
