Asia’s cash differential for 380-cst high sulphur fuel oil (HSFO) has been teetering between discounts and premiums in recent sessions amid volatile trading.

The Singapore 380-cst HSFO differential rose from its previous session to a premium of $4.70 a metric ton on Monday, as bids and trades firmed from last week.

Meanwhile, the cash differential for 180-cst HSFO remained below discounts of $2.

The cargo market for very low sulphur fuel oil (VLSFO) was little changed on Monday due to fewer trades amid a wide gap between bids and offers.

OTHER NEWS

– Oil prices held steady on Monday as U.S. efforts to replenish strategic reserves provided support, though concerns persist about oversupply and softer fuel demand growth next year.

– Chinese refiners’ demand for Saudi Aramco crude oil for January is the lowest in five months, people with knowledge of the matter said on Monday, as higher-than-expected prices prompted buyers to seek cheaper supply.

– India will expand its refining capacity by about 22% from the current 253.92 million metric tons per year to meet its growing energy demand, junior oil minister Rameswar Teli said on Monday.

– Commodities trader Trafigura posted a record net profit of about $7.4 billion for the 12 months to the end of September, up 5% from a year earlier, and promised a $5.9 billion dividend to shareholders, while anticipating a slowdown in future earnings.

WINDOW TRADES

– 180-cst HSFO: No trade
– 380-cst HSFO: Four trades
– 0.5% VLSFO: No trade
Source: Reuters (Reporting by Jeslyn Lerh; Editing by Sonia Cheema)