Fuel Oil Price as on 15th November, 2024.
VLSFO (very low sulfur fuel oil) spot premium fell on Thursday in Asia market. Cash premium for VLSFO at Singapore trading window pegged at $8.25 per Mt on competitive offers with narrowing backwardation for prompt months. Onshore inventories at Singapore hub piled up for a second consecutive week as per report. HSFO (High Sulphur Fuel oil) markets edged up on Thursday at Singapore hub. Bunker sales including marine fuel increased to nine months high in October at Singapore market while Bio fuel led the momentum.
Turning to other markets, Crude markets settled little higher yesterday while markets shifted focus to bullish product numbers from U.S. Strong dollar keep weigh on oil prices. FO prices in India may go down but LDO may see little price change for the second half of Nov, 2024.
