Asia’s spot differentials for high sulphur fuel oil (HSFO) softened on Monday amid weakness in crude oil benchmarks and the absence of window trades for a second straight session.
There were no bids for a 180-cst grade of HSFO against three offers, while several 380-cst bids and offers did not translate into any deals, market participants said.
Cash differentials for 180-cst HSFO were down 25 cents to a discount of $3.20 per ton, while differentials for very low sulphur fuel oil (VLSFO) traded at a $5.70 per ton, down from $5.95 in the previous session.
Cash differential for 380-cst was also down 15 cents at 85 cents per ton on Monday.
OTHER NEWS
U.S. energy companies are eying renewed opportunities to build natural gas pipelines to tap into Appalachia shale formations in Pennsylvania, Ohio and West Virginia, buoyed by U.S. President Donald Trump’s pro-energy policies and expectations that demand for the fuel will rise in coming years.
– Japan engages in “unfair” automobile trade with the United States and should increase its imports of U.S. energy resources and other goods to help reduce the U.S. trade deficit, President Donald Trump said in an interview broadcast on Sunday.
WINDOW TRADES
– 180-cst HSFO: No trade
– 380-cst HSFO: No trade
– 0.5% VLSFO: One trade
Source: Reuters