Crude oil benchmarks prices sank today after closing up yesterday evening. US-China tariff war and worries of supply overhang in the coming year are the major headwinds to crude prices as of now. Demand worries compounding negative sentiment prevailed in the market. Weekly nos delayed due to holidays. Consensus is on crude build with product draws in U.S last week. On technicals side, selling pressure Mounting over bearish momentum as shorts built are set to book profits during the week.

Fuel oil markets are moving in bearish mood with no change in fundamentals. Marine Bunker Fuel in singapore fell in Sep. HSFO market structure softened into contango on Monday as ample prompt supplies outpaced gloomy demand outlook. VLSFO cash differentials discounts widened while HSFO pegged near parity to discount. FO LDO prices set to change tomorrow in India. No major change expected.