Spot premium for very low sulphur fuel oil (VLSFO) rebounded on Tuesday after hitting seven-week lows in the previous session, with the emergence of stronger-priced trades.
The premium was pegged at $7.25 a metric ton, up from levels of about $5 per ton on Monday.
Delivered bunker fuel premiums for VLSFO remained rangebound between $20 and $25 per ton, based on industry sources.
Meanwhile, bunker fuel premiums for 380-cst high sulphur fuel oil (HSFO) were still supported above $40 for prompt delivery dates due to tight barging and cargoes, said sources.
However, the Singapore cash premium for 380-cst HSFO closed slightly lower at $3.25 a ton on Tuesday, having shown signs of paring in recent sessions.
In tenders, Taiwan’s CPC offered more LSFO for loading in October. The tender closes on Oct. 9 and is valid until Oct. 11, according to a notice on CPC’s website.
REFINERY
– U.S. oil refiners are expected to have about 873,000 barrels per day of capacity offline in the week ending Oct. 11, raising available refining capacity by 383,000 bpd, research company IIR Energy said.
Source: Reuters (Reporting by Jeslyn Lerh; Editing by Eileen Soreng)
