SINGAPORE INVENTORIES Residual fuel oil stocks at key trading hub Singapore eased after striking more than a year's high last week, with net imports sliding for a third consecutive week, official data showed on Thursday. Onshore fuel oil stocks were at 23.52 million barrels (3.7 million tonnes) in the week to April 12, dipping 1% from the previous week, based on Enterprise Singapore. However, supplies are still high compared with the start of the year when weekly inventories were about 21 million barrels. OTHER NEWS - Oil prices were stable on Thursday as the market weighed the prospect of tight supply against possible recession in the United States, the world's largest oil consumer. - China's crude oil imports in March surged 22.5% from a year earlier, as refiners stepped up purchases from relatively low levels in 2022. - Oil products shipments from TotalEnergies' Donges and La Mede refineries were disrupted on Thursday, a company spokesperson said, with 20% of operational staff having joined strike action over the government's pension reforms. - The Biden administration plans to refill the U.S. Strategic Petroleum Reserve soon, and hopes to refill it at lower oil prices if it's advantageous to taxpayers during the rest of the year, U.S. Energy Secretary Jennifer Granholm said.
WINDOW TRADES - 180-cst HSFO: No trade - 380-cst HSFO: Two trades - 0.5% VLSFO: One trade
ASSESSMENTS
FUEL OIL
CASH ($/T) ASIA CLOSE CHANGE PREV CLOSE RIC
Cargo - 0.5% VLSFO 601.84 6.09 595.75 Diff - 0.5% VLSFO 2.50 -0.62 3.12 Cargo - 180cst 483.17 6.17 477.00 Diff - 180cst 2.55 1.02 1.53 Cargo - 380cst 483.11 3.87 479.24 Diff - 380cst 5.55 -1.95 7.50 Bunker (Ex-wharf) Premium - 380cst 12.00 0.00 12.00
Bunker (Ex-wharf) Premium - 0.5% VLSFO 8.00 -0.50 8.50
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)
