Fuel Oil Price Today as on 29th November, 2024.
VLSFO (very low sulfur fuel oil) spot premiums continued to be pressed on persistent selling interest. Refinery margins for VLSFO held between $11.25 and $11.5 a barrel. SG onshore stock piles went up 13.2 pct to $19.23 Mb in the week to Nov.27th as per data.
HSFO (High Sulphur Fuel oil) markets largely stable to mildly weaker with ample supplies are expected into December. HSFO markets were rangebound this week in thin trading. Selling pressure persisted in the market with multiple spot offers.
Hi-5 Fuel oil spread continued to become narrow. Hi-5 Fuel Dec contract set to close at $88 per Mt. The Hi-5 spread narrowed due to a weaker VLSFO markets and stable to firmer HSFO markets during the week.
Turning to other markets, Crude prices flat in thin trade. cease fire violations & delayed OPEC+ decision are the factors propping up. FO prices in India may go down while LDO prices will witness little change as on 1st Dec, 2024.
