By Srinivas Chowdary Sunkara // petrobazaar // 3rd June, 2019.
Furnace Oil (F.O) and Light Diesel Oil (LDO) are the fuels largely used as a fuel to generate electricity and heat in a number of sectors. Being market linked, Both Furnace Oil (FO) and Light Diesel Oil (LDO) prices fluctuates on fortnightly basis.
As We predicted, In India, Industrial fuel oil prices changed mix wef 01/06/19, for the first half of June across all the oil marketing company depos. The Furnace oil (F.O) basic prices are revised down by Rs.730 per KL continuing previous downside revision while Light Diesel Oil (LDO) prices are very insignificantly increased by Rs.200 per KL as on 01/06/2019 in line with a slump in Bunkering markets across the ports during the recent weeks. Furnace oil (F.O) are raised by 7% and Light Diesel Oil (LDO) prices are increased by above 11% pct since the beginning of the year.
As per the publications of oil marketing companies, At Visakha depo, Furnace oil (F.O) prices are revised down by Rs.730/KL to Rs.34740/KL and LDO prices are increased by Rs.200 at Rs.43560/KL. In the Singapore market, IFO 180 cSt and 380 cSt graded fuel oil prices were shrank by 3.5% where as the rupee was appreciated by 0.75 paise against $ during the last fortnight.
Disclaimer: Views and opinions expressed here are personal. This commentary is for information purposes only and not an offer or a solicitation to sell or buy any physical commodities or financial instruments. The views and analysis are based on reliable public information available at the time of writing. This report and its content cannot be copied, redistributed or reproduced in part or whole without the prior written permission of petrobazaar.com