Spot differentials for high sulphur fuel oil (HSFO) held in discounts as of Wednesday, while residual fuel stockpiles at the UAE’s Fujairah fell to a seven-month low, latest data showed.
More supply has been flowing from the Middle East to Asia this month, ship-tracking data showed this week.
Meanwhile, bunker demand at Fujairah has also been healthy in the week, some trade sources said, contributing to a drawdown in inventories.
Ample high-sulphur inventories in East Asia have led to a weak spot HSFO market in recent sessions, with selling interest persisting, though discounts narrowed slightly on Wednesday.
On the low-sulphur front, the cash premium extended a slight rebound on a firmer trade, though bunker premiums remain capped, sources said.
Source: Hellenic Shipping News
