Asia’s cash differential for 380-cst high sulphur fuel oil (HSFO) showed signs of easing on Wednesday after holding steady since early August.
The cash differential FO380-SIN-DIF slipped to a premium of $19.77 a metric ton over Singapore quotes as lower offers emerged. The market had rallied earlier this month.
September crack for 380-cst HSFO FO380DUBCKMc1 also retreated on Wednesday, easing to a discount of $4.12 a barrel by 0830 GMT, after holding at 15-month highs the previous day.
Meanwhile, very low sulphur fuel oil (VLSFO) remained range-bound. The 0.5% VLSFO cash differential MFO05-SIN-DIF climbed to a premium of $4.92 a metric ton, though refining crack LFO05SGDUBCMc1 closed lower at a premium of $10.37 a barrel.
In tenders, Thailand’s PTT offered VLSFO for loading between September 16 and 18. The tender closes on Wednesday and will be awarded on Thursday.
FUJAIRAH INVENTORIES FUJAIRAH/
Fuel oil inventories at Fujairah FUJHD04 rose 6% to 9.30 million barrels (1.46 million tons) in the week to Aug. 21, showed Fujairah Oil Industry Zone data published by S&P Global Commodity Insights.
Source: Hellenic Shipping News
