crude and fuel oil markets update 3rd September, 2025 – petrobazaar.com, Hyderabad, India.
Brent Nov futures are trading at $67.71 at 2 pct loss while WTI Oct futures prices are moving at $64.04 a barrel after 1.55 pct dip at the time of reporting. Both the benhcmarks closed yesterday in gains. Traders are weighing fundamentals like OPEC+ moves on opening up spigots, U.S new sanctions on a network of shipping companies and prospectus of crude and product inventory draws last week. Schduled OPEC+ meet on next sunday in focus. On the technicals side, Shorts are very likely book profits during the week.
Fuel oil markets are weighed down by ample supplies into Sep. VLSFO spot premiums dipped while cracks were largely stable. HSFO showed signs of improvement as cash differentials pegged nearer to parity compared to steeper discounts. EU likely to delay taxation on shipping fuels. Furnace oil and LDO prices are revised down in India as predicted by petrobazaar.com. Bitumen price are reduced in India from 1st Sep, 2025.
