Fuel Oil Price Today as on 14th November, 2024.
VLSFO (very low sulfur fuel oil) markets held largely rangebound on Wednesday while cracks closed lower at premium of $13 a barrel. HSFO (High Sulphur Fuel oil) Spot premiums edged higher on Wednesday amid a stronger backwarded market structure. HSFO cracks for Singapore 380-cSt closed higher at a discount of $4.35 a barrel. Intermonth spreads for both 180 cSt and 380 cSt grades at the prompt month on robust trading momentum in the derivative markets. Amid expected influx of supplies, Lingering tightness is perceived for prompt market supplies as per analysts.
Turning to other markets, crude oil prices rebounded on speculator’s short covering after markets slammed in the early after OPEC flagged lackluster demand. FO prices in India may go down while LDO may see little price change for the second half of Nov, 2024.
