Fuel Oil Price Today as on 22nd November, 2024.
VLSFO (very low sulfur fuel oil) cash premiums stable and flat to softer. Cracks dipped below premiums of $12.5 a barrel. Refining margins range bound amid stable crude oil prices.
HSFO (High Sulphur Fuel oil) 380 cSt cash premiums declined on expected heavy supply arrivals. HSFO market structure weakened at the prompt trading months. SG – Spot premiums for 380 cSt HSFO was pegged at $12.75 a Mt. HSFO price movement reflected narrowing backwardation for the Dec- Jan contract. Regional supplies remain plentiful. Thailand PTT offered two cargoes of HSFO for loading in Dec.
Turning to other markets, Crude price continued to surge on simmering tensions between Moscow and Kyiv. FO prices in India revised down while LDO prices went up for the second half of Nov, 2024.
