high sulphur fuel oil (HSFO) refining margins softened on prevailing bearish mood in the market. The 380-cSt crack closed down at a discount on Friday falling about 5% on Friday. On the other hand, Very Low Sulphur Fuel oil (vlsfo) markets moved steady on Friday amid thin market activity. The cash premiums for 0.5% VLSFO closed at $14.75 per Mt. Refining margins rebounded.
Crude oil markets moving flip-flop on lack of key fundamentals. Technicals does not extend support due to cautious trading on lack of buying in crude futures and options as reported. Furnace oil prices will be revised on Nov 1st in India. marginal change is expected.