VLSFO (Very Low Sulphur Fuel oil), HSFO(High Sulphur Fuel Oil) prices down $4/mt to $687/mt and $16/mt to $449/mt respectively today in Singapore market. Refining margins for VLSFO extended on tight supplies on Monday. VLSFO crack premium extended on Friday. Cash premiums for 0.5% VLSFO inched lower to $29.50 per Mt on Tuesday.

Crude markets are moving in bearish mood since investors preferred to sell off majority of petroleum futures and options. Furnace oil (FO) and Light Diesel Oil (LDO) prices likely to go down in India.