Asia’s fuel oil cash differentials were little changed on Tuesday as an earlier trading spree in the spot market cooled off.

Singapore’s 380-cst high sulphur fuel oil (HSFO) cash differential fell to a premium of $1.53 a metric ton as the product traded lower, while cracks were at discounts of $9.67 a barrel.

Meanwhile, 0.5% very low sulphur fuel oil (VLSFO) was little changed, with cash premiums at $14.25 a metric ton and margins closing at premiums of $11.63 a barrel.

In tenders, Indonesia’s Pertamina offered its residual fuel products for loading in December and January.

The tender for products loading from Cilacap and Sungai Pakning closes on Tuesday, while the tender for products loading from Dumai closes on Wednesday.

OTHER NEWS

– Oil prices jumped by nearly 1% on Tuesday, lifted by uncertainty over voluntary output cuts by the OPEC+ group of producers, tensions in the Middle East and some encouraging economic signals in Europe.

– Russia’s oil and gas revenues declined in November to 961.7 billion roubles ($10.53 billion) from 1.635 trillion roubles in the previous month, finance ministry data showed on Tuesday.

– The Kuwait National Petroleum Company said that a limited fire was controlled at a support unit of the Environmental Fuels Project at the Mina Abdullah refinery.

– War risk insurance premiums edged up for Red Sea voyages after three vessels were attacked in the area on Sunday and fears grow over worsening perils for commercial shipping, maritime and insurance sources said.

WINDOW TRADES O/AS

– 180-cst HSFO: No trade
– 380-cst HSFO: One trade
– 0.5% VLSFO: No trade
Source: Reuters (Reporting by Jeslyn Lerh; Editing by Mrigank Dhaniwala)