- Dubai crude got $38.93 per barrel higher than its previous $37.58.
- In the month of June 10ppm oil can crack, and got an uptrend in supplies.
- VLSFO market supported by arbitrage inflows this year
0.5% VLSFO cash premium edged further towards previous records heights, tells the article on the website business recorder.
The previous month Dubai touched a height of $38.93 Per barrel surpassing previous records of $37.58 per barrel hot on 31 May 2022
VLSFO market supported by blending components of gasoline and limited arbitrage inflows
With 0.5% VLSFO cash premium edged further the premiums at $77.66 per tonne to Singapore quotes on Thursday Verses $77.16 per turn the previous day
Inventories of Singapore
6% to 21.348 million barrels rise in Singapore fuel oil stocks in the week to June 22.
The increased interest rates in major economies let oil prices rise.
The source said Russia is trying hard to increase gasoline and naphtha supplies to Africa and the Middle East as it is struggling to self fuel in Europe on the other hand Asia is taking bulk of crude and Refinitiv Eikon from Russia Sajid the sources.