HSFO VLSFO Markets 11-10-2023

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Fuel oil supplies to Asia are pegged at about 4.5Mt for Oct, Edged lower compared to September. The 380 cSt HSFO (High Sulphur Fuel Oil) cash differentials change a little with discount while refining crack slipped to a discount. The cash premium for VLSFO (Very Low Sulphur Fuel Oil) eased slightly on Tuesday with softening market backwardation. The market backwardation has weakened compared to last week’s four-month highs.

crude markets demonstrated upside momentum at the beginning of the week on Middle east political turmoil. Furnace oil or Fuel oil retail selling prices are very likely to revise down for the second fort night of Oct month.

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