crude and fuel oil markets update 28th August, 2025 – petrobazaar.com, Hyderabad, India.
Brent crude oil Oct futures prices are moving down 1.5 pct or $1.04 a barrel while WTI oil Oct futures are trading down around 1 pct at $63.63 a barrel at the time of reporting. No significant change in oil fundamentals this week. Weekly nos supportive. Official data showed U.S crude inventories fell by 2.4 Mb while gasoline and distillates stocks dropped during the last week. Any short term reasons to be friendly towards oil prices are diminishing. All eyes on New Delhi for response to pressure from U.S to stop buying Russian oil. Tensions continued to escalate between Russia and Ukraine.
Fuel oil markets under pressure at Singapore trading window. VLSFO spot differentials recovered for a fourth consecutive trading day on stronger bids. The Singapore VLSFO cash differential was pegged at a premium near $3 a mt. 380 cSt HSFO was pegged at a discount of $1.5 a ton. Indian Refinery, HPCL offered more HSFO for loading in Sep based on sources. FO LDO prices are expected to revise down in India on 1st Sep, 2025.
