Fuel Oil Price Today as on 13th November, 2024.
VLSFO cash premiums dipped to below $9.00 per Mt with softening offers. HSFO cash premiums for Singapore 380-cSt grade pegged lowed at $10 per Mt. Spot fuel oil benchmarks went down on the backdrop of expected ample supplies into market. SG markets are expected strong inflow led by a sustained recovery in arbitrage barrels including from Russia. Downward bunker premiums also softened for delivered marine fuel at Singapore.
Turning to other markets, OPEC monthly oil report painted bearish picture that descended oil prices further down to touch two weeks low yesterday. FO prices are expected to change a little while LDO may see price change for the second half of Nov, 2024.
