Fuel Oil Price Today range bound as on 4/7/2024
Fuel oil price today on 4th July, 2024 changed mix in the Singapore market. VLSFO prices down $1 per Mt to $644 per Mt. LSMGO prices $2 per Mt up to $737/mt while HSFO prices remain unchanged at $525 per Mt.
Fuel oil markets range bound in Asia. KPC offered two spot cargoes of 380 -cSt HSFO for loading July 19-20 and July 26-27. The tender closed on Wednesday. HSFO markets firmed up in the second quarter. Margins pared on expected lower seasonal demand. HSFO benchmarks held stable in second quarter. Market backwardation for 380-cSt HSFO in the prompt trading months narrowed to levels below $6 per Mt on Wednesday. 0.5% VLSFO Markets softened on Wednesday with cash premiums sliding day on day while refining cracks dipped below premiums of $11 per barrel. Turning to other markets, FO LDO prices in India revised up on 1st July, 2024. crude markets moving down today on bearish U.S employment data.
