Asia’s fuel oil markets changed slightly on Friday, while India sold more High-Sulphur Fuel Oil supplies via tender for loading in the coming months.
India’s HPCL offered six cargoes of High Sulphur Fuel Oil (HSFO) for loading in August, September, and October, based on market sources.
Each cargo is 30,000 metric tons and will be loaded from Mumbai port. Sources say the tender closes on Friday.
Spot benchmarks were largely stable for HSFO, with cash premiums for 180-cst and 380-cst grades holding nearly $5 per ton. Meanwhile, cracks FO380DUBCKMc1 closed at discounts of $5.50 per barrel.
The Very Low Sulphur Fuel Oil (VLSFO) market inched slightly higher, with cash premium pegged at $7 per ton, while cracks climbed above premiums of $10.60 per barrel, based on LSEG data.
Source: XM
