- 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
