Asia’s very low sulphur fuel oil (VLSFO) market gained on Thursday after stocks at Singapore trading hub declined to a four-week low.
The market’s spot cash differential rose to a premium of $8.17 a tonne, compared with a premium of $7.80 a tonne to Singapore quotes a day earlier. (MFO05-SIN-DIF)
In physical markets, energy trader Mercuria bought 20,000 tonnes of Marine fuel oil, while offers didn’t match bids in the high sulphur fuel oil markets.
The HSFO market traded at steady discounts on Thursday in the absence of deals.
INVENTORIES
Singapore’s onshore stocks of fuel oil dropped by 522,000 barrels to 20.811 million barrels in the week to Jan. 11, Enterprise Singapore data showed.
Source: Hellenic Shipping News
