Fuel oil markets continue to trade high today for the second consecutive day at Singapore trading hub in Asia. VLSFO prices up $5 per Mt to $647 per Mt. LSMGO prices surged $8 per Mt to $794 per Mt. HSFO prices rose $3 to $489 per Mt.
Fuel oil – very low sulphur fuel oil (VLSFO) refining margins edged up on Monday while 380 cSt Fuel oil cash differentials closed at narrow discounts. Singapore’s VLSFO Crack edged higher towards $13 a barrel. Cash differentials for VLSFO inched 5 cents lower to $1.6 per Mt.
Crude markets are trading up buoyed up by positive sentiment ignited with the prevailed geo-political tensions along with supply tightening talks. Furnace oil prices are expected to go up in India for the first half of April, 2024.
