Asia’s high sulphur fuel oil differentials ended the week in losses as the market expected supplies to rise and as Singapore stocks rose, but the downside was limited by a decline in European inventories.

Singapore’s 380-cst HSFO cash premium dropped for a seventh session on Friday to $15.02 a metric ton.

With scanty trading activity at the deals window this week, the very low sulphur fuel oil (VLSFO) market remained weak.

Fuel oil stocks at the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub fell 6% to 1.13 million tons in the week to March 20, data from Dutch consultancy Insights Global showed.

OTHER NEWS

– Oil prices rose on Friday and were heading for a second consecutive weekly gain as fresh U.S. sanctions on Iran and the latest output plan from the OPEC+ producer group raised expectations of tighter supply.

– Kazakhstan’s oil output has reached a record high this month on the back of oilfield expansion, further exceeding OPEC+ production quotas, two industry sources said and Reuters calculations showed on Friday.
Source: Reuters