Asia’s cash premiums for 0.5 percent very low-sulphur fuel oil (VLSFO) fell on Friday, but were kept within close proximity of a more than three-month high increased in the previous session, despite the prompt-month spread for the marine fuel grade.

Cash differentials for Asia’s 0.5% VLSFO increased by $20.87 per tonne to Singapore quotes, down from Thursday’s $21.69 per barrel, the highest rate since December 6.

The VLSFO time spread in March and April sounded at $30.50 per barrel on Friday, compared to $32.75 per barrel a day earlier.

On Friday, the front-month VLSFO crack fell for the second consecutive session to $29.66 per barrel against Dubai crude. The crack was at $30.59 on Thursday, after hitting a new high of $31.79.

On Friday, Asia’s cash premiums for 380-cst high sulphur fuel oil (HSFO) sank to $5.19 per tonne, compared to $7.50 per tonne in the previous session.

INVENTORIES IN ARA
Fuel oil stocks held independent in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub slipped 1.4 percent to 1.04 million tonnes in the week to March 10, according to Dutch consulting Insights Global.

ARA gasoil inventories have dropped by 1.7 percent to 1.6 million tonnes, according to data.

WINDOW TRADES
One 380-cst high-sulphur fuel oil (HSFO) transaction, no 180-cst HSFO trades.

– There were no VLSFO trades reported.

OTHER NEWS
Oil prices rose on Friday, but were on course for their most significant weekly declines since November, according to witnesses despite concerns over increasing restrictions on Russian oil and bolstering efforts to increase supply.

Oil corporations BP and Shell have not offered to sell diesel cargoes on the German market for the last two weeks, due to fear of a supply shortage, according to two traders on Thursday.
Source: Reuters