Fuel Oil Price Today as on 10th October, 2024
Fuel oil graded prices changed on Thursday at Singapore trading hub. VLSFO prices down $2/mt at $598/mt. LSMGO price up $3/mt to $680/mt while HSFO price down $1/mt to $482/mt.
VLSFO spot premiums extended a climb for the second session on Wednesday despite of capped gains by expected incoming stocks. spot premiums for VLSFO rose $8.05/mt after stronger bids and emerging trades. Though incoming supplies are underway in the second half of this month , Some prompt supply tightness is expected in the first half of the month. HSFO 380 cSt Singapore cash premiums closed higher at $5.05 a ton on Tuesday with signs of paring in the recent session. Backwardation widening seen for both the grades.
Turning to other markets, Crude oil prices are moving up on Fundamentals like Major US storm, expected supply disruptions from Middle East regions and supply demand growth reported by eia. FO prices will be increased in India while LDO prices are trended to go up in India for the second half of October, 2024.
