Fuel oil markets up in Singapore. 20-12-2023

image describes the movement of fuel oil prices in singapore markets

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Fuel oil benchmark prices for both VLSFO and HSFO pegged up in Asia. Supplies flow increased into the markets due to surge in western arbitrage arrivals. It is expected that Asia’s fuel oil arrivals could exceed 6 million tonnes in December compared to 20% up in November.

Fuel oil 0.5% VLSFO cash premium rose to $7.84 a metric tonne while margins closed at a premium of $13.62 a barrel. 390-cSt HSFO cash premium ticked up at $4.25 per metric tonne while refining cracks climbed to discount of $9.8 a barrel on Tuesday.

crude oil futures prices surged on bullish sentiment buoyed up by escalation of political tension after the Houthis attacked ships in red sea waters. Furnace oil, light diesel oil ,SKO , petcoke and LSHS prices are set change on 1st jan, 2024.

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