Singapore fuel oil benchmarks were rangebound on Thursday, while onshore inventories recovered for a third straight week.
Cracks for the Very Low-Sulphur Fuel Oil (VLSFO) market held stable above $8 a barrel, though trade sources continued to eye the weakness in gasoline margins.
Meanwhile, High-Sulphur Fuel Oil (HSFO) 380-cst cracks hovered at discounts of about $6 a barrel.
Spot benchmarks were largely rangebound in recent trading sessions, capped by incoming supply replenishment, according to sources.
Onshore fuel oil stockpiles in Singapore rose for a third straight week, led by recovering net imports, which more than tripled from last week.
In tenders, Kuwait’s KPC sold about 70,000 metric tons of 380-cst HSFO for loading between June 26th and 27th, according to trade sources.
Source: Hellenic Shipping News
