Asia’s fuel oil refining cracks fell on Monday even though crude oil prices edged lower as the market waits to assess the actual impact of the Middle East violence on the supply and disruption of oil.

The crack for 380-cst HSFO fell further to a discount of $15.06 a barrel at the Asia close, touching its lowest level in more than a week, according to LSEG data.

The 0.5% very-low sulphur fuel oil (VLSFO) crack closed at $10 a barrel on Monday, compared with $10.79 a barrel on Friday, LSEG data showed.

SINGAPORE BUNKER SALES

Singapore’s marine fuel sales, also known as bunker sales, were steady in September month-on-month as vessel calls and container throughput were little changed, official data showed on Monday.

Sales in September totalled 4.26 million metric tons, up 0.2% from the prior month and 7.7% higher year-on-year, latest data from the Maritime and Port Authority (MPA) showed.

OTHER NEWS

– Brent oil futures steadied above $90 a barrel on Monday after passing the threshold on Friday as investors waited to see if the Israel-Hamas conflict draws in other countries.

– The Indian government’s discomfort over letting state-controlled refiners pay for Russian oil imports with Chinese currency has held up the payment for at least seven cargoes, people with direct knowledge of the matter said.

– Russia expects a visit by Venezuelan President Nicolas Maduro as the two oil producers deepen their cooperation and Russian companies seek to invest more in the South American country, President Vladimir Putin’s oil point man said on Monday.|
Source: Reuters (Reporting by Muyu Xu; Editing by Sohini Goswami)