In Bunker markets, Cash markets are the markets where physical oil is traded like The Rotterdam Spot Market. The cash premiums for 0.5% very low sulphur fuel oil (VLSFO) eased while high sulphur fuel oil (HSFO) markets under pressure in Asia on Tuesday. VLSFO premiums fell on low product trade although refining margins are high. HSFO cash premiums under retreated amid a weaker backwardation on Tuesday.
Crude markets are under downward pressure amid bearish sentiment buoyed up by weak economic numbers from Euro zone that fanned demand fears. Furnace oil price are expected to change a little on Nov 1st, 2023 in India.