Crude oil futures moving in bearish mood. Markets digested surplus worries. US sanctions started biting Russian oil. Russian oil company, Lukoil suffering to survive operations in other countries. India already trimmed crude imports in Oct, expected to further decrease in Nov month. Gloomy economic outlook sprinkled demand worries across the market. Turning to data, U.S Crude stocks piled up while product inventories sank during last week. Saudi Aramco announced fresh discounts to Asia markets. Rig nos awaited while speculators data is due later this week.

Fuel oil markets moving in rangebound discounts in Asia plentiful of inventories into Singapore markets keep fuel oil benchmarks in check. Both HSFO and VLSFO benchmarks trapped into discounts since Oct. FO LDO market likely to move up in India.