Fuel oil spot markets under pressure on piling up onshore stocks at Singapore window. Stronger supplies flooded into Asia and slowing bunker demand towards year end holiday season weighed on fuel oil premiums.
VLSFO (very low sulfur fuel oil) spot differentials remained in narrow premium to cargo quotes. HSFO (High Sulphur Fuel oil) 380 cSt derivative contracts are bought by some trading houses while softening VLSFO markets.
Hi-5 Fuel oil spread is the premium of VLSFO over 380 cSt HSFO. Hi-five fuel oil spreads narrowed day on day at about $91 per ton.
Turning to other markets, Bears fest continues in crude markets.. FO prices in India went down while LDO prices revised down as on 16th Dec, 2024.
