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Fuel Oil Price Today. 31st July, 2024.

fuel oil price movements in singapore

Srinivas Chowdary Sunkara

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Fuel Oil Price Today as on 31st July, 2024

Fuel oil prices changed mix today on 31st July, 2024 across all fuel oil grades at Singapore trading window. VLSFO prices up $1 per Mt to $603/Mt. LSMGO price up $2 per Mt to $705/mt while HSFO prices unchanged at $495/Mt. 

Fuel oil spot premiums largely stable in Singapore market before month end on thin trade. VLSFO markets firmed up on expectation of tighter prompt supplies. Backwardation spread between August and September continue to widen on tighter prompt supply fundamentals. HSFO prices rangebound on lack of fresh drivers.

Turning to other markets, Crude oil markets moving up on widening of political tensions in ME. FO and LDO price revision is due in India.

Disclaimer: Views and opinions expressed here are personal. This commentary is for information purposes only and not an offer or a solicitation to sell or buy any physical commodities or financial instruments. The views and analysis are based on reliable public information available at the time of writing. This report and its content cannot be copied, redistributed or reproduced in part or whole without the prior written permission of petrobazaar.com

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