Cash premiums for fuel oil continued to ease in Asia on Friday as offers dipped further, though downstream bunker premiums retained support this week.
Singapore bunker premiums for Very Low Sulphur Fuel Oil (VSLFO) held above $25 per metric ton, according to cargo quotes. Prices remain elevated due to limited supply for prompt delivery dates, market sources said.
However, cash premiums for VLSFO cargoes have fallen below $4.50 per metric ton, as spot offers continued to soften for loading dates in the second half of August.
The High Sulphur Fuel Oil (HSFO) markets have also come under pressure this week, with cash premiums tumbling down and cracks FO380DUBCKMc1 logging steep weekly declines.
INVENTORY DATA
– ARA inventories STK-FO-ARA were at 1.39 million tons in the week to Aug. 1, dipping 2.1% from last week, data from Dutch consultancy Insights Global showed.
Source: XM
