Singapore's spot 0.5% VLSFO cash premium was stable at $9.75 a tonne, while the market's front-month refining crack dipped from the previous session to $8.78 a barrel at Friday's Asia close (0830 GMT).
Fuel oil inventories edged higher at the key oil trading hubs of Singapore, Fujairah and Rotterdam as markets remained adequately supplied.
Meanwhile, Thailand's PTT closed a tender on Friday, offering a cargo of either 35,000 tonnes or 50,000 tonnes for loading between April 8-10 or April 16-18. ARA INVENTORIES Fuel oil inventories in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose 4% to 1.24 million tonnes in the week ended March 23, latest data from Dutch consultancy Insights Global showed.
OTHER NEWS
- Oil prices extended losses on Friday on worries about a potential oversupply after U.S. Energy Secretary Jennifer Granholm said refilling the country's Strategic Petroleum Reserve (SPR) may take several years.
- State oil giant Abu Dhabi National Oil Co (ADNOC) plans to float its marine and logistics
subsidiary in the coming months, two sources said, the second initial public offering of one of
its businesses this year.
- Maersk and Shanghai International Port Group have signed a memorandum of understanding for
a green methanol marine fuel project in the Shanghai port, the shipping group said on Friday.
- A long-awaited loan agreement between Pakistan and the International Monetary Fund (IMF)
will be signed once a few remaining points, including a proposed fuel pricing scheme, are
settled, an IMF official said on Friday.
WINDOW TRADES - 180-cst HSFO: No trade
- 380-cst HSFO: No trade
- 0.5% VLSFO: No trade
ASSESSMENTS
FUEL OIL
CASH ($/T) ASIA CLOSE CHANGE PREV CLOSE RIC
Cargo - 0.5% VLSFO 539.60 -6.84 546.44 Diff - 0.5% VLSFO 9.75 0.00 9.75 Cargo - 180cst 402.28 -1.94 404.22 Diff - 180cst 3.35 -1.80 5.15 Cargo - 380cst 397.56 2.46 395.10 Diff - 380cst 8.17 0.17 8.00 Bunker (Ex-wharf) Premium - 380cst 11.00 0.00 11.00
Bunker (Ex-wharf) Premium - 0.5% VLSFO 12.00 0.00 12.00
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 Sohini Goswami)
