Very Low Sulphur Fuel oil (VLSFO) prices went up $9/mt to $666/mt while High Sulphur Fuel oil (HSFO) traded $2 up to $454/Mt in Singapore markets. Onshore inventories continued to sink in Singapore market on selling pressure amid a steep backwardated market. Imports have fallen in Singapore markets.
The cash premium for 0.5% VLSFO held steady while HSFO cash differentials slipped amid a lower offer. Crude markets continued to tumble during the week lost around 7%, Set for straight 3rd weekly loss. Furnace oil and Light Diesel oil prices are expected to go down in India.