Asia’s high sulphur fuel oil (HSFO) cash differentials were down on Thursday after Singapore inventories rose to a 13-week high.
The 380-cst HSFO cash premium traded at $14.81 a metric ton. The very low sulphur fuel oil (VLSFO) cash differential was steady at a discount of 88 cents amid tepid trading at the deals window.
Singapore fuel oil stocks rose by 2.09 million barrels to 21.708 million barrels in the week to March 26, Enterprise Singapore data showed.
OTHER NEWS
– U.S. oil producers are grappling with geological limits to production growth as the country’s top oilfield ages and produces more water and gas and less oil – and may be nearing peak output.
– Oil prices were steady on Thursday as markets assessed new U.S. tariffs, while concerns about global supply kept prices near one-month highs.
– Saudi Aramco is in talks to invest in two planned refineries in India as the world’s top oil exporter looks for a stable outlet for its crude in the world’s fastest-growing emerging market, several Indian sources with direct knowledge of the matter said.
WINDOW TRADES
– 180-cst HSFO: No trade
– 380-cst HSFO: No trade
– 0.5% VLSFO: No trade
Source: Reuters