Fuel oil price moving slow. 26-02-2024

Graph explains how fuel oil in Asian markets are moving.

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Fuel oil price remained under pressure on Friday amid slow demand and ample supplies in Asian markets. Thin demand for marine fuels weighed on fuel oil premiums. VLSFO premiums dipped while HSFO premiums stagnated in discounts in Asia. VLSFO premiums down to $20 last week that stood at $30 due to rebound in onshore supplies and piling up inventories at key hubs singapore and Rotterdam last week. Cash differentials for VLSFO in singapore slipped to $6 per ton while 380 cSt HSFO softened to a discount of $3.95 per ton. Turning to crude markets, world benchmarks traded lower, ended last week down amid bearishmood buoyed up by expected delay in U.S Fed interst rate cuts. Furnace oil prices in India set to change for every fortnight in India.

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