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What are forward fuel-oil prices?

April 26, 2017forward fuel-oil prices

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What are forward fuel-oil prices?

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They are actual prices of fuel oil traded in the fuel-oil market for delivery in a future period. In Singapore, electricity tariffs are set using threemonth forward fuel-oil prices. The forward fuel-oil price of $155.14 per barrel for Oct 1 to Dec 31 this year is about 38 per cent higher than the $112.35 per barrel this quarter. What are spot oil prices? They are fuel-oil prices traded in the fuel-oil market for immediate delivery.