Fuel oil prices up today. 10-01-2024

image shows fuel oil movement in singapore market

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Fuel oil – VLSFO prices up $7 per Mt to $596 per Mt while HSFO prices down $2 to $454 per Mt today at Singapore market as per report. Cash premiums for fuel oil are rangebound in Asia. Fuel oil – 180 cSt grade trade emerged on Tuesday. Trade emerged for some other flagship fuel oil grades.

Fuel oil – Singapore’s 0.5% VLSFO eased to $2.5 a ton on Tuesday while front month cracks little changed at premiums of $11 a barrel. 380 cSt HSFO cash premiums fell to $5 per ton. cracks rebounded to discounts of $10 a barrel.

In India, HPCL offered HSFO cargoes scheduled to be loaded by Jan and Feb end. RIL offered carbon black feedstock for early Feb. both the tenders closed on Tuesday.

crude markets rebounded yesterday on bullish sentiment buoyed up by supply factors. political turmoil in middle east remains the factor in the market. weekly data and monthly data awaited. Furnace prices are likely to revise up in India for the second fortnight if Jan, 2024.

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