FO – Fuel oil prices plummeted across all grades at Singapore trading window in Asia today. VLSFO (Very low Sulphur Fuel oil) prices dropped $22 per Mt to $619 per Mt. LSMGO prices went down $21 per Mt to $740 per Mt. HSFO (High Sulphur Fuel oil ) prices fell $10 per Mt to $513 per Mt today as per report.
HSFO markets rebounded recently on expectation of lower supplies as the middle east exports thin volumes as it enters into summer months. The spot prices for 180 cSt HSFO grade firmed on Tuesday as strong bid emerged with 380 cSt differentials also extended gains. VLSFO spot markets demand recovery seen lagged due to selling pressure. FO prices are revised down in India. crude markets are in sideways.
