Fuel Oil Price Today as on 17th July, 2024
Fuel oil price today on 17th July, 2024 changed down across all fuel oil grades at Singapore trading window. VLSFO prices down $6 per Mt to $612 per Mt. LSMGO prices $5 per Mt decreased to $727/mt while HSFO prices slipped $6 per mt to $517 per Mt.
Fuel Oil Benchmarks largely rangebound in Asia on 16th July, 2024. HSFO cash premiums hovered between $4.5 to $5 per Mt while 380 cSt cracks hold discounts of nearer to $5 per barrel. VLSFO cracks premium also largely stable at premium of $10 per barrel. Kuwait state owned oil refiner, KPC offered 80000 Mts of HSFO for loading between July 29th and July 30th. This came on top of two more cargoes, each of 60000 tons for loading in the same month. On the crude markets, Oil benchmarks are trading low amid negative sentiment ignited by Chinese low demand numbers. FO and LDO prices jumped in India on 16th July, 2024 as we predicted.
