Fuel Oil Prices Expected To Strike 2.5M Tonnes

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  • Fuel oil supplies from the West to Asia are expected to hit close to 2.5 million tonnes this month.
  • The 0.5% VLSFO cash premium fell by $1.32 day-on-day to $19.77 per tonne to Singapore quotes on Tuesday.

VLSFO cash premium dips on steady arbitrage supplies report Business Recorder.

Fuel oil market

Amid expectations of a constant inflow of arbitrage supplies in October, the cash premium for very low sulphur fuel oil (VLSFO) dropped on Tuesday.

According to Refinitiv ship-tracking data, it is expected that fuel oil supplies from the West to Asia will strike approximately 2.5 million tonnes.

Statistics

The 180-cst HSFO cash differential fell by 76 cents to a discount of $4.09 per tonne to Singapore quotes, while the 380-cst HSFO cash differential inched slightly higher to a premium of $1.12 over Singapore quotes on Tuesday.

The 0.5% VLSFO cash premium fell by $1.32 day-on-day to $19.77 per tonne. 

In a tender that closes on October 11, India’s HPCL offered about 25,000 tonnes of 380-cst HSFO for loading between October 23-28 from Vizag.

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Source: Business Recorder

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