Fuel oil – both VLSFO and HSFO prices declined today in Singapore market as per report. VLSFO prices down $8 per mt to $623/mt. HSFO prices edged down $10 to $438/mt today.
Fuel oil spot premiums remain range bound in Asia yesterday. Increasing supplies Limited potential recovery. Singapore’s cargo cash premiums for VLSFO traded lower at $6/mt. Despite of supported bunker premiums and higher marine fuel demand, hefty inflow Limited the cargo cash premium. HSFO markets remain stagnated in thin premiums as russian supplies continued to flow to east.
Furnace oil and ldo prices in india are set to revise for every fortnight. FO prices may go up for the first half of february. Crude prices moving in uncertainty over demand outlook.