The front-month Hi-5, which is the price difference between 0.5% VLSFO and 380-cst HSFO, narrowed further from last week to $121.75 a tonne on Monday, Refinitiv data showed. A narrowing hi-5 spread typically reflects a stronger high-sulphur market and a weaker low-sulphur market.
VLSFO's cash differential was unchanged at a premium of $3.00 a tonne over Singapore quotes, though the market's front-month crack eased from the previous session to a premium of $7.98 a barrel at the Asia close (0830 GMT).
Meanwhile, the spot premium for 380-cst HSFO edged slightly higher at $6.00 a tonne on Monday, while its refining crack was at a discount of $11.59 a barrel. OTHER NEWS - Oil prices were steady on Monday as investors eyed Chinese economic data for signs of demand recovery in the world's second-largest oil consumer. - Russia's crude oil export duty is set to slightly increase in May to $14.4 a tonne from $14.3 a tonne in April, the finance ministry said on Monday. - Indian state refiners posted an 8.4% rise in sales of gasoil to 3.45 million tonnes in the first half of April compared with the same period last month, preliminary sales data showed, indicating higher demand from the agriculture sector and a recovery in industrial activity. - Shell Plc on Monday launched its first electric ferry globally at its Singapore refinery and said it would work with the city-state's port authority to cut emissions from ships.
WINDOW TRADES - 180-cst HSFO: No trade - 380-cst HSFO: No trade - 0.5% VLSFO: One trade
ASSESSMENTS
FUEL OIL
CASH ($/T) ASIA CLOSE CHANGE PREV CLOSE RIC
Cargo - 0.5% VLSFO 596.07 -0.46 596.53 Diff - 0.5% VLSFO 3.00 0.00 3.00 Cargo - 180cst 475.35 0.65 474.70 Diff - 180cst 1.62 -0.67 2.29 Cargo - 380cst 474.14 -0.42 474.56 Diff - 380cst 6.05 0.28 5.77 Bunker (Ex-wharf) Premium - 380cst 11.00 -1.00 12.00
Bunker (Ex-wharf) Premium - 0.5% VLSFO 8.50 0.00 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 Jason Neely)
