Fuel oil prices inched lower. 23-02-2024.

fuel oil prices in Singapore market

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Fuel oil prices dipped in Singapore markets. VLSFO prices down $3 to $640/mt. HSFO prices went down $2/mt to $447/mt today. The cash differentials for fuel oil edged lower on Thursday amid ample supplies at Singapore as per the data. The stock build was boosted by Russia – origin volumes. HSFO prices benchmarks prices remained under pressure as cargoes remain readily available in the east of Suez region. The spot cash differentials for 380 – cSt HSFO widened to discount of $3.81 a metric ton on Thursday. VLSFO markets also eased with cash differentials dipping to a premium of $7.04 a ton. Turning to crude markets, benchmarks are trading down today in a bearish mood that buoyed up by expected delay in cutting Fed interest rates. Furnace oil prices are set to change for every fortnight in India.

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