Fuel Oil Price Today as on 7th November, 2024.
VLSFO cash premiums remained at $10.50 per Mt with a window deal remaining at same levels. HSFO cash premiums for 380 cSt closed at $13 per Mt. Cash premiums in Asian markets hold ground on Wednesday on changing market expectations. HSFO remained strong on expected low arrivals from ME region. VLSFO markets remained strong on expected sufficient supplies in to Singapore market. Chinese buying interest for their own bunkering requirements and elevated cost levels of blending components keep support to fuel oil markets and could minimise any weakness.
Turning to other markets, Crude markets over reacted to Trump election to close down down yesterday. Markets are grappled with fears of trump taking away Iran barrels with sanctions pressure. FO prices went up in India while LDO prices decreased for the first half of Nov, 2024.
