Spot differential for Asia’s 380-cst high sulphur fuel oil (HSFO) market sank into a steeper discount on Tuesday, while very low sulphur fuel oil (VLSFO) was rangebound from the previous session.
Singapore 380-cst HSFO extended declines, with the product trading into a steeper discount day-on-day. Trafigura was the main seller on the window in recent sessions.
Meanwhile, several window trades for VLSFO also emerged on Tuesday, at parity differential to cargo quotes.
Separately, in the broader market, Indonesia’s Pertamina offered 200,000 barrels of decant oil for loading from Balongan between December 24 and December 25, based on industry sources.
Cracks were broadly stable from the previous day. VLSFO crack (LFO05SGBRTCMc1) held near a premium of $4 a barrel, while 380-cst HSFO crack (FO380BRTCKMc1) rose slightly to a discount of $7.75 a barrel, data compiled by LSEG showed.
REFINERY UPDATES
– Elliott Investment Management’s affiliate Amber Energy plans to keep Citgo Petroleum’s refineries, terminals and other connected assets once it takes over the Venezuela-owned U.S. refiner, following the completion of a court-ordered auction, sources close to the preparations said.
WINDOW TRADES
– 180-cst HSFO: No trade
– 380-cst HSFO: One trade
– 0.5% VLSFO: Three trades
Source: Reuters
