SINGAPORE INVENTORIES Onshore fuel oil stocks fell 2% to 20.17 million barrels (3.18 million tonnes) in the week ended March 8, Enterprise Singapore data showed.
OTHER NEWS - Oil fell for a third day on Thursday as fears over the economic impact of rising interest rates offset a surprise drop in U.S. crude inventories and hopes for Chinese demand. - India's power ministry on Thursday said it has taken several steps to ensure adequate power availability during the upcoming summer months, in an attempt to allay fears of power cuts due to surging demand in the country.
- Barclays cut its 2023 oil price forecasts, due in part to more resilient output from Russia than expected, and said the market could flip into a deficit in the second half of the year due to growing demand in China.
- Train and air traffic will again be disrupted in France on Thursday and garbage collection in cities including Paris will be patchy as strikes against a planned pension reform are set to enter a third consecutive day.
WINDOW TRADES - 180-cst HSFO: No trade - 380-cst HSFO: Three trades - 0.5% VLSFO: No trade
ASSESSMENTS
FUEL OIL
CASH ($/T) ASIA CLOSE CHANGE PREV CLOSE RIC
Cargo - 0.5% VLSFO 577.37 -10.66 588.03 Diff - 0.5% VLSFO 4.40 -1.01 5.41 Cargo - 180cst 441.33 -4.77 446.10 Diff - 180cst 3.44 -0.71 4.15 Cargo - 380cst 428.60 -5.07 433.67 Diff - 380cst 7.25 0.78 6.47 Bunker (Ex-wharf) Premium - 380cst 9.00 0.00 9.00
Bunker (Ex-wharf) Premium - 0.5% VLSFO 11.00 0.00 11.00
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 Varun H K)
