Crude flat prices are moving at six months high at the time of reporting. U.S-Iran Jitters continue to sprincle fears across the market. Invenstors took cautious approach albeit massive build up of U.S warships and aircrafts across the ME and Indian Ocean in readiness for a possible attach on Iran. Surprisingly, Market managers preferred to sell off last week. Turning to technicals, prices on paper moved up, Softer Prompt spreads and Weaker physical differentials pointed to pricing based on geo-political concerns. Weekly nos due.
Fuel oil markets demonstrated downside momentum today at Singapore trading window in Asia. HSFO prices went down on built in HSFO fuel inventories while VLSFO prices declined. FO LDO prices are trended to high for the first half of March in India.
