Asia Fuel Oil-380-cst HSFO cash differential steady
NEW DELHI, July 15 (Reuters) - Asia's high sulphur fuel oil (HSFO) spot market were little changed in discounts on Tuesday, amid a quiet deals window and weakness in crude oil benchmarks.
Singapore 380-cst HSFO cash differential was pegged at a discount of about $7 a metric ton, while the intermonth spread between balance-July and August stood in a contango of $5.53.
Meanwhile, the very low sulphur fuel oil (VLSFO) market softened, with cash premiums extending losses at $3.91 per ton.
OTHER NEWS
- Oil prices retreated on Tuesday after U.S. President Donald Trump's lengthy 50-day deadline for Russia to end the Ukraine war and avoid sanctions eased immediate supply concerns. O/R
- China’s crude oil throughput in June rose 8.5% from a year earlier, official data showed on Tuesday, as state-owned refineries increased operations and saw a recovery in profit, according to consultancies.
- U.S. President Donald Trump's threat to choke off Russia’s oil revenue via secondary sanctions would deal a hammer blow to Moscow's finances, but markets are betting that the risk of higher energy prices will keep Washington from following through.
WINDOW TRADES O/AS
- 180-cst HSFO: One trade
- 380-cst HSFO: No trade
- 0.5% VLSFO: No trade
ASSESSMENTS
FUEL OIL | ||||
CASH ($/T) | ASIA CLOSE | CHANGE | PREV CLOSE | RIC |
Cargo - 0.5% VLSFO | 501.64 | -13.25 | 514.89 | MFO05-SIN |
Diff - 0.5% VLSFO | 3.91 | -0.54 | 4.45 | MFO05-SIN-DIF |
Cargo - 180cst | 407.51 | -7.02 | 414.53 | FO180-SIN |
Diff - 180cst | -5.44 | -0.19 | -5.25 | FO180-SIN-DIF |
Cargo - 380cst | 395.38 | -7.23 | 402.60 | FO380-SIN |
Diff - 380cst | -6.98 | 0.07 | -7.05 | FO380-SIN-DIF |
Bunker (Ex-wharf) Premium - 380cst | 1.00 | 0.00 | 1.00 | |
Bunker (Ex-wharf) Premium - 0.5% VLSFO | 7.00 | 0.00 | 7.00 |
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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