off-the-wire

Asia Fuel Oil-VLSFO cash premium rises on softer crude prices

Kitco Media
By Reuters
Published:
Updated:
Reuters
NEW DELHI, March 20 (Reuters) - Asia's very low sulphur fuel oil (VLSFO) market extended gains on Monday, after crude oil prices dropped to their lowest in 15 months. The cash differential for 0.5% VLSFO rose to $6.46 a tonne, compared with $5.23 a tonne on Friday. The 180-cst HSFO cash differential was steady at $6.38 a tonne on Monday, while the 380-cst HSFO cash differential dipped by 25 cents to $6.22 a tonne. In physical markets, energy trader P66 continued to snap up the higher grades of fuel. A total of 40,000 tonnes of fuel oil was traded at the Singapore window. NEWS - Oil prices fell on Monday by more than $2 on concerns risks in the global banking sector may cause a recession that would lead fuel demand to decline and ahead of a potential hike in U.S. interest rates this week. - India plans to extend restrictions on the export of diesel and gasoline after the current fiscal year ends this month to ensure the availability of refined fuels for the domestic market, two government sources with direct knowledge of the matter said. SINGAPORE CASH DEALS - 180-cst HSFO: One trade - 380-cst HSFO: No trade - 0.5% VLSFO: One trade


PRICES
CASH ($/T) ASIA CLOSE CHANGE PREV RIC CLOSE
Cargo - 0.5% VLSFO 513.08 -22.67 535.75 Diff - 0.5% VLSFO 6.46 1.23 5.23 <MFO05-SIN- DIF> Cargo - 180cst 376.73 -21.40 398.13 Diff - 180cst 6.38 0.07 6.31 <FO180-SIN- DIF> Cargo - 380cst 365.04 -20.16 385.20 Diff - 380cst 6.22 -0.25 6.47 <FO380-SIN- DIF> Bunker (Ex-wharf) 7.00 -8.00 15.00
Premium - 380cst
Bunker (Ex-wharf) 11.75 0.25 11.50
Premium - 0.5% VLSFO



For a list of derivatives prices, including margins, please
double click the RICs below.
Brent M1 <BRENTSGMc1


>
180cst M1 <FO180SGSWM


c1>
180cst M1/M2 <FO180SGSDM


c1>
180cst M2 <FO180SGSWM


c2>
Visco M1 <FOVISSGDFM


c1>
Visco M2 <FOVISSGDFM


c2>
380cst M1 <FO380SGSWM


c1>
380cst M1/M2 <FO380SGSDM


c1>
380cst M2 <FO380SGSWM


c2>
Cracks 180-Dubai M1 <FO180SGCKM


c1>
Cracks 180-Dubai M2 <FO180SGCKM


c2>
East-West M1 East-West M2 Barges M1 <HFOFARAAMc


1>
Barges M1/M2 <HFOFARAASM


c1>
Barges M2 <HFOFARAAMc


2>
Crack Barges-Brent M1 <HFOFARAACM


c1>
Crack Barges-Brent M2 <HFOFARAACM


c2>

(Reporting by Mohi Narayan and Matthew Chye; Editing by Varun H K)

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