Fuel Oil Price Today as on 30th January, 2024.
Fuel oil markets in Asia largely stable on Tuesday. 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) trade was largely thin ahead of holiday though low priced spot offers existed. Cash premiums for VLSFO declined to $6.30 per ton on Tuesday. HSFO (High Sulphur Fuel oil) maintained flat position. cash premium for 380 cSt HSFO held steady at levels above $8 a ton with holding several bids.
Hi-5 Fuel oil spread is the premium of VLSFO over 380 cSt HSFO. Hi-five fuel oil spread narrowed to below $90 per Mt on softening VLSFO prices.
Turning to other markets, crude markets continued to dive on cautious trade. FO prices are expected to go up while LDO prices may increase on 1st Feb 2025.
