Fuel oil HSFO spot discounts narrowed.9-2-2024

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Fueloil – HSFO spot discounts narrowed slightly on Thursday amid quiet trade. Weekly fuel oil imports retreated after last week’s jump while exports edged higher as per the data. Online inventories in Singapore eased to a two-week low.

HSFO cash differentials stuck in discounts. HSFO 380 cSt cracks held at a discount of about $11 a barrel. VLSFO spot market inched higher to a premium of $3.85/mt on Thursday. Furnace oil (FO) prices set to change for every fortnight. FO prices in India are likely to revise up for second half of Feb, 2024. crude prices surged on escalation of middle east tensions yesterday and heading towards weekly gains.

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