Asia spot fuel oil differentials were largely flat on Wednesday in thin pre-holiday trade, while markets held in rangebound contango from the previous session.
Singapore 380-cst high sulphur fuel oil (HSFO) differential was pegged at a discount of nearly $1.60 a metric ton, while very low low-sulphur fuel oil (VLSFO) held at a discount of about 45 cents.
Prompt markets held in contango due to amply available supply, while demand for spot bunkers largely slowed this week.
Cracks for VLSFO (LFO05SGBRTCMc1) hovered steadily at premiums of above $4 a barrel, while 380-cst HSFO cracks (FO380BRTCKMc1) were at discounts of nearly $7 a barrel, LSEG data showed.
WINDOW TRADES
– 180-cst HSFO: No trade
– 380-cst HSFO: No trade
– 0.5% VLSFO: No trade
Source: Reuters
