Fuel Oil Price Today as on 29th July, 2024
Fuel oil price today on 29th July, 2024 fell down across all fuel oil grades at Singapore trading window. VLSFO prices down 1 pct to $604 per Mt. LSMGO price slipped 1 pct to $715/mt while HSFO prices dipped 1 pct to $502 per Mt.
Very Low Sulfur Fuel Oil (VLSFO) premiums logged in weekly climbs. With the support of tighter supplies, VLSFO premiums in Singapore breached $16 per Mt after being capped at $10 on lukewarm demand outlook along with ample supplies. VLSFO cracks for August delivery closed at premiums of around $11.7 per barrel on Friday. Refining margins for Fuel oil also edged up from the previous week. HSFO margins retained strength. HSFO 380 cSt cracks went up more than 15 pct from last week closing at discounts of about $4.7 per barrel. Turning to other markets, Crude oil markets moving stable while FO and LDO price revision is due in India.
