Premiums on 0.5% low-sulphur bunker fuel, traded on a delivered basis, were range-bound between $10 and $15 a tonne over Singapore quotes on Monday, traders said.
The recent downtrend in bunker fuel premiums paused as spot buying inquiries in Singapore improved after crude oil prices steadied, they added.
Meanwhile, India's MRPL has offered 40,000 tonnes of 0.5% marine fuel for March 25-27 loading. The tender closes on Monday with same-day validity.
OTHER NEWS
- Oil prices edged up in volatile trade on Monday as Russia halted exports to Poland via a key pipeline ahead of a hefty supply cut announced for March. However, gains were capped by a stronger dollar and recession fears.
- China's Yulong Petrochemical has agreed two-year crude oil supply deals with BP and Chevron to supply its 400,000 barrel per day greenfield refinery in northern China from next year, a company official told Reuters on Monday. - Sembcorp Marine and Chevron announced a lower-carbon liquefied natural gas (LNG) fleet modification project on Monday.
- Brazil's National Energy Policy Council will decide the country's mandatory blend of biodiesel in diesel at a meeting scheduled for March, the Ministry of Mines and Energy said.
WINDOW TRADES - 180-cst HSFO: No trade - 380-cst HSFO: No trade - 0.5% VLSFO: No trade
ASSESSMENTS
FUEL OIL
CASH ($/T) ASIA CLOSE CHANGE PREV CLOSE RIC
Cargo - 0.5% VLSFO 574.31 -5.20 579.51 Diff - 0.5% VLSFO 5.60 -0.08 5.68 Cargo - 180cst 425.17 4.82 420.35 Diff - 180cst 1.25 0.16 1.09 Cargo - 380cst 405.72 3.19 402.53 Diff - 380cst 2.25 0.23 2.02 Bunker (Ex-wharf) Premium - 380cst 7.50 0.50 7.00
Bunker (Ex-wharf) Premium - 0.5% VLSFO 10.00 0.00 10.00
For a list of derivatives prices, including
margins, please double click the RICs below.
Brent M1 180cst M1 180cst M1/M2 180cst M2 Visco M1 Visco M2 380cst M1 380cst M1/M2 380cst M2 Cracks 180-Dubai M1 Cracks 180-Dubai M2 East-West M1 East-West M2 Barges M1 Barges M1/M2 Barges M2 Crack Barges-Brent M1 Crack Barges-Brent M2 (Reporting by Jeslyn Lerh
Editing by David Goodman)
