Fuel Oil Price Today as on 1st February, 2025
Fuel oil markets in Asia largely stable. Asia’s Spot premium for very low sulphur fuel oil (VLSFO) prolonged declines while High Sulphur Fuel Oil (HSFO) maintained stability on thin trade.
VLSFO (very low sulfur fuel oil) has pared due to high inventories and adequate supplies in the short term. Spot VLSFO prices softened on Friday for loading between late Feb and early march. HSFO (High Sulphur Fuel oil) has retained price strength as tariff tensions spilled over Fuel oil markets. The prompt months backwardation for both 180 cSt and 380 cSt grades widened above $10 a ton on Friday compared to about $8 before the holidays.
Hi-5 Fuel oil spread is the premium of VLSFO over 380 cSt HSFO. Hi-5 fuel oil spread crunched to below $76 per Mt on weakening VLSFO prices.
Turning to other markets, crude markets continued to dive on choppy trade. FO prices are expected to go up while LDO prices may increase on 1st Feb 2025.
