VLSFO HSFO markets cautious. 22-11-2023

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Bunker prices across all grades inched up today at Singapore window. The cargo differentials for both the VLSFO and HSFO dipped on Tuesday ahead of OPEC+ meet. Traders are eyeing on the outcome of the OPEC+ meet scheduled to take a call on output policy. Kuwait’s al-Zour refinery has been shut down for one week. Refinery officials said that operations will be resumed within 10days. Market participants raise doubts on timeline.

Crude oil markets are moving flat ahead of weekly data confirmation and OPEC meet. Furnace oil (FO) and Light Diesel Oil (LDO) prices are expected to change marginally on 1st December, 2023 in India.

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