Spot cash differentials in Asia’s fuel oil market dipped on Thursday amid competitive offers, while landed inventories at Singapore rose slightly from the previous week.

The 0.5% VLSFO cash differential (MFO05-SIN-DIF) eased to a premium of $8.98 a tonne to Singapore quotes, while the 380-cst HSFO cash differential (FO380-SIN-DIF) dipped to a premium of 96 cents a tonne.

Meanwhile, the 180-cst cash differential (FO180-SIN-DIF) remained in discounts to Singapore quotes since the start of this year.

SINGAPORE INVENTORIES

Onshore fuel oil stocks rose by 2% to 21.33 million barrels (3.36 million tonnes) in the week ended Jan. 4, Enterprise Singapore data showed.

The slight uptick came amid a gain in weekly net imports, which increased by 3% to 658,000 tonnes.
Source: Reuters