Bunker premiums extended strength. 6-2-2024

Image showing vlsfo and hsfo price movements in singalore market

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Fuel oil markets continue to exist as stable market in Asia on higher demand. Prevailing Red sea crisis keep continuing disruptions to bunker markets. Higher demand from shippers keep markets tighter inturn Extending bunker premiums in Asia.

Fuel oils 0.5% VLSFO cash differentials rose slightly to a premium of $7.15/tonne with margins climbed to premium of nearly $13 per barrel. HSFO markets are in bearish mood with sellers quewed up to sell. 380 cSt cash differentials pegged at a discount of $4.65/tonne. crude prices went up yesterday after four sessions of falling. Furnace oil prices in India are set to change for every fortnight. FO prices in india may go up for the second half of Feb, 2024.

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