Asia’s 180-cst high sulfur fuel oil (HSFO) market retreated on Wednesday as a lower offer emerged.
The cash differential for 180-cst HSFO dropped to a premium of $11.95 a metric ton, down by more than 25% day-on-day.
The sharp decline followed a recent collapse in the 380-cst HSFO market, which has since steadied.
The 380-cst HSFO cash differential FO380-SIN-DIF was pegged stable at a premium of $9 a ton, while September crack FO380DUBCKMc1 closed at a discount of $6.41 a barrel.
Meanwhile, very low sulfur fuel oil (VLSFO) continued to soften, with the 0.5% VLSFO September/October time spread pegged lower at $9.50 a ton at 0830 GMT, based on Refinitiv data.
September 0.5% VLSFO crack LFO05SGDUBCMc1 fell to a premium of $10.67 a barrel, while spot cash differential MFO05-SIN-DIF was pegged lower at a premium of $6.25 a ton.
FUJAIRAH INVENTORIES FUJAIRAH/ Fuel oil inventories at Fujairah FUJHD04 edged 5% higher at 9.80 million barrels (1.54 million tons) in the week to Aug. 28, hitting eight-week highs, showed Fujairah Oil Industry Zone data published by S&P Global Commodity Insights
The cash differential for 180-cst HSFO dropped to a premium of $11.95 a metric ton, down by more than 25% day-on-day.
The sharp decline followed a recent collapse in the 380-cst HSFO market, which has since steadied.
The 380-cst HSFO cash differential FO380-SIN-DIF was pegged stable at a premium of $9 a ton, while September crack FO380DUBCKMc1 closed at a discount of $6.41 a barrel.
Meanwhile, very low sulfur fuel oil (VLSFO) continued to soften, with the 0.5% VLSFO September/October time spread pegged lower at $9.50 a ton at 0830 GMT, based on Refinitiv data.
September 0.5% VLSFO crack LFO05SGDUBCMc1 fell to a premium of $10.67 a barrel, while spot cash differential MFO05-SIN-DIF was pegged lower at a premium of $6.25 a ton.
FUJAIRAH INVENTORIES FUJAIRAH/ Fuel oil inventories at Fujairah FUJHD04 edged 5% higher at 9.80 million barrels (1.54 million tons) in the week to Aug. 28, hitting eight-week highs, showed Fujairah Oil Industry Zone data published by S&P Global Commodity Insights.
Source: Hellenic Shipping News
