By Srinivas Chowdary Sunkara // petrobazaar // 26th Dec, 2018.
Fuel oil markets are under severe pressure for last one month. Swelling inventories ebbed buying interest among the traders. In Singapore, Both the 180 cSt and 380 cSt graded fuel oil prices shrank by $83.5 or 18.85% since Nov 24th. MGO prices declined by $63 for last one month. As per the sources, Higher fuel oil inventories in Europe, Ample supplies into Singapore market weighed on fuel oil prices. The global stock markets plunges roiled over oil market, spilled over to fuel oil markets pushed panic selling. In India, Fuel oil prices have been falling for last two months and prices are seemingly to be on lower side for the first half of January, 2019. Have a good day.
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