Asia Fuel Oil-Cash differentials fall, window activity muted
NEW DELHI, March 28 (Reuters) - Asia's high sulphur fuel oil (HSFO) cash differentials ended the week in losses with no deals at the Singapore window for five trading sessions.
The 380-cst HSFO cash premium traded at $14.55 a metric ton on Friday. The very low sulphur fuel oil (VLSFO) cash differential fell to a discount of $1.17 a ton.
Singapore markets closed early on Friday on account of a public holiday on Monday.
China has issued export quotas for 12.8 million metric tons of gasoline, diesel and aviation fuel in its second batch of allowances this year, down by 1.2 million tons from a year earlier, trade sources and a China-based consultancy said on Friday.
China manages its fuel exports via a quota allowance system to manage exports and supply levels in its domestic market.
Meanwhile, fuel oil stocks at the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub fell to 1.088 million tons in the week to March 27, compared with 1.128 million tons in the prior week, data from Dutch consultancy Insights Global showed.
OTHER NEWS
- Oil prices retreated on Friday amid tariff-related demand concerns, but headed for a third weekly gain on a tightening global supply outlook after the U.S. placed more pressure on Venezuelan and Iranian oil trade. O/R
- Top oil exporter Saudi Arabia may lower its crude prices for Asian buyers in May to a three-month low, tracking the steep declines in benchmark prices this month, traders said.
WINDOW TRADES O/AS
- 180-cst HSFO: No trade
- 380-cst HSFO: No trade
- 0.5% VLSFO: No trade
ASSESSMENTS
FUEL OIL | ||||
CASH ($/T) | ASIA CLOSE | CHANGE | PREV CLOSE | RIC |
Cargo - 0.5% VLSFO | 510.55 | 1.79 | 508.76 | MFO05-SIN |
Diff - 0.5% VLSFO | -1.17 | -0.29 | -0.88 | MFO05-SIN-DIF |
Cargo - 180cst | 470.12 | 1.26 | 468.86 | FO180-SIN |
Diff - 180cst | 14.23 | 0.35 | 13.88 | FO180-SIN-DIF |
Cargo - 380cst | 457.33 | -1.19 | 458.51 | FO380-SIN |
Diff - 380cst | 14.55 | -0.26 | 14.81 | FO380-SIN-DIF |
Bunker (Ex-wharf) Premium - 380cst | 4.24 | 0.00 | 4.24 | |
Bunker (Ex-wharf) Premium - 0.5% VLSFO | 3.00 | 0.00 | 3.00 |
For a list of derivatives prices, please refer to ENSWAP/INFO or the RICs below: | |
180cst M1 | FO180SGSWMc1 |
180cst M1/M2 | FO180SGSDMc1 |
380cst M1 | FO380SGSWMc1 |
380cst M1/M2 | FO380SGSDMc1 |
0.5% VLSFO M1 | LFO05FSGMc1 |
0.5% VLSFO M1/M2 | LFO05FSGSMc1 |
Cracks 180cst-Brent M1 | FO180BRTCKMc1 |
Cracks 180cst-Dubai M1 | FO180SGCKMc1 |
Cracks 380cst-Brent M1 | FO380BRTCKMc1 |
Cracks 380cst-Dubai M1 | FO380DUBCKMc1 |
Cracks 0.5% VLSFO-Brent M1 | LFO05SGBRTCMc1 |
Cracks 0.5% VLSFO-Dubai M1 | LFO05SGDUBCMc1 |
Visco 180cst/380cst M1 | FOVISSGDFMc1 |
Hi-5 0.5% VLSFO/380cst M1 | FO05-380SGMc1 |
GoFo 10PPM/0.5% VLSFO M1 | GO10FO05FSGMc1 |
East-West M1 | FOSGEWMc1 |
Barges M1 | HFOFARAAMc1 |
Barges M1/M2 | HFOFARAASMc1 |
Crack Barges-Brent M1 | HFOFARAACMc1 |
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