Asia’s very low sulphur fuel oil (VLSFO) market retained strength for September loading dates on Monday, although it traded lower for October.
Sentiment around tight prompt supplies had kept the spot VLSFO market supported in recent sessions
The product traded at $23 per metric ton to Singapore quotes for dates in late September. though a lower-priced trade emerged for early October at a $16 premium
Backwardation for VLSFO eased for a second consecutive trading day, with the balance- September and October timespread narrowing to $26 per ton
Meanwhile, high sulphur fuel oil (HSFO) remains strong for now, with spot premium for the 380- cst grade pegged above $14 per ton on Monday.
Source: Reuters (Reporting by Jeslyn Lerh, Editing by Sonia Cheema)
