Fuel Oil Price Today as on 8th January, 2024.
Fuel oil markets in Asia at SG trading window are in bearish mood. Spot differentials for fuel oil dipped on hefty supplies amid slow demand. Backwardation spreads continued to narrow for the key fuel oil grades at prompt months.
VLSFO (very low sulfur fuel oil) spot markets held lower with narrow premiums. VLSFO cracks remained under pressure and trapped near premium of $10 per barrel. HSFO (High Sulphur Fuel oil) 380 cSt cracks slipped to discount of about $6.75 per barrel on Tuesday.
Hi-5 Fuel oil spread is the premium of VLSFO over 380 cSt HSFO. Hi-five fuel oil spread rangebound.
Turning to other markets, crude markets are rangebound. Technicals outweighed fundamentals. . FO prices are likely to go up in India while LDO prices will be increased on 16th jan 2025.
