HSFO markets softened on Monday while 0.5% VLSFO markets firmed in Asia. The cash premiums for 380-cSt HSFO fell to $3.9 per Mt in Singapore markets. Cash premiums are sliding and backwardation timespreads are narrowing. Decreasing seasonal demand from middle east and retreating imports in China keep weigh on HSFO. Furnace oil or Fuel oil retail selling prices are revised down moderately in India.
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