crude modest gains – Fuel oil markets under pressure – FO LDO prices trended up in India
Crude flat prices rose on Friday, Logged in weekly gains with a modest gain of around $1 from last Friday closing. Oil lost more than $15 in the beginning of the week following a de-escalatory post from Trump, Later on prices grind their way back to higher on the lack of clues over re-opening of SoH. Brent jumped 53 pct while WTI up 45 pct since Feb 27th. This week, Investors seems to be more focused on longevity of the war rather than headlines. Timespreads keep strengthening further over rising prompt Brent backwardation. Weekly data painted bearish picture over builds across US, ARA Europe and SG. Refined products markets continue to dominate due to tightening middle distillate products particularly in Asia. Speculators moderately reduced positions in crude F&O during the week ending 24th March, 2026. Ukraine intensified attacks over Russian facilities to ensure the Kremlin doesnt profit off the Iran war as per analysts.
FUEL OIL MARKETS- WEEKLY REPORT
Fuel oil prompt markets remain under pressure this week at SG trading window in Asia. VLSFO lead time remains at 8-11 days while HSFO availability continues to be constrained within a 9-16 day range largely unchanged week on week. SG fuel oil inventories averaged 4 pct higher so far this month compared to Feb as per data from enterprise Singapore. FO LDO prices are trended to go up in India.
