Fuel oil prices went up above 50 pct from March 2nd.

Fuel oil prices demonstrating strong upside momentum. Both VLSFO and HSFO prices spiked above 50% since the disruption began. Mouting fears across crude markets sprinkling over Fuel oil markets in Asia at Singapore trading hub. As per the data collected from hubs, HSFO prices went up sharply from around $574.5/mt on 2nd March to about $822.5/mt by 6 March, indicating strong bullish momentum in the marine fuel market. Both supply and demand fundamentals continue to drive fuel oil markets up. Operational disruptions in Fujairah bunkering hub in the UAE shifted more refueling demand towards SG market, pushing bunker premiums higher. FO LDO Prices are expected to go up in India.