Brent oil Dec futures trading down at $64.78 a barrel while U.S Crude Dec futures prices dipped at $60.38 a barrel today at the time of trading. Benchmarks logged in weekly loss last week. Hedgefunds and other money managers opt to sold out equalent of 56 Mb of Brent futures and options over the week ending Ocf 21st. Investors gloom faded out with the prospectus of surplus inventories in the coming year across the world due to OPEC+ group opening spigots. Weekly nos awaited. Brent Nov futures are set to expire this week.
Fuel oil markets moving volatile at Singapore trade desk in Asia. VLSFO spot differentials edged higher although remaining struck in discounts over ample supplies. VLSFO cash differentials up for Nov Deliveries. HSFO market deepened into contango structures. Spot differentials were slightly higher from last week. Cracks mixed. FO LDO prices set to go down in India for the first half of Nov in India.
