Cash discounts for High Sulphur Fuel Oil (HSFO) widened in Asia on Tuesday as the region remains well supplied, with spot offers for the 380-cst grade sliding compared to the previous day.
The Singapore cash differential softened to a discount of $5.88 a metric ton, while refining margins dipped to discounts of about $13.50 a barrel.
Fuel oil supplies from the Middle East to Asia breached 2 million tons in February, firming from January levels which were at about 1.5 million tons, based on LSEG ship-tracking data.
Meanwhile, price benchmarks for Very Low Sulphur Fuel Oil (VLSFO) were little changed in the absence of fresh drivers.
In tenders, South Korea’s Oil offered 20,000 tons of slurry for loading in early March, closing on Wednesday.
There was a recent fire at the refinery, though this had limited impact on refined product markets, said sources.
Source: Hellenic Shipping News
