By Srinivas Chowdary Sunkara // petrobazaar // 24th May, 2019.
Fuel Oil (F.O) prices plunged yesterday. Both the 180 cSt and 380 cSt graded fuel oil prices were traded down by $10 or 2.21% while MGO prices are dropped by $4.5. Fuel oil (F.O) prices in the Singapore markets plummeted around 4% during the week. The global crude prices are slumped around 6% yesterday as the longs headed to exit on weak economic indicators amid trade fears turning into technology war between the largest global economies very fast.
Low sulfur fuel oil (LSFO) having 1% max sulfur content recorded a wider premium to Heavy sulfur fuel oil (HSFO) in this week. The widening gap between two grades suggest an earlier start in preparation of IMO cap.
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IMO news courtesy:ship&bunker
