FUEL OIL MARKETS UPDATES
Yesterday, Fuel oil prices rose around the markets. In Singapore, IFO 180 cSt oil prices were boosted up by $10 at $438 with 2.34 % upward change from its previous session price. Brent prices reached above $74 levels after 2014 following the bullish weekly stats while factoring the Geo-political premium during the week.
The front month East-West arbitrage spread was lifted on expected tighter supplies on Wednesday. Despite of rise in Brent prices, The May 380 cSt fuel oil discount to Brent crude was slightly firmer and Fujairah fuel oil inventories rose 2 % to a 3 months highs.