Fuel oil prices dropped. 27-03-2024.

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Fuel oil traded down on Tuesday at Singapore trading window in Asia. Fundamentally, traders are more cautious on arrival of hefty stocks from middle east and West. Fuel oil benchmarks softened buoyed up by bearish market sentiment on rising Inflow of stocks.

Fuel oil – Very low sulphur fuel oil (VLSFO) cash differentials were down by 42 cents to $1.18 per Mt. Spot HSFO differentials fell further to discounts to singapore quote at $3.01 per Mt. Total fuel oil arrivals will increase by 49% to 7.51 million ton in March.

Crude oil markets are down today morning on bearish weekly numbers. Furnace oil prices may increase in India for the first half of April.

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