On Tuesday, data revealed that the premium of very-low sulphur fuel oil (VLSFO) over high-sulphur fuel oil (HSFO) has reached its lowest level since October 2021, as reported by XMZA.
Fuel at its lowest
Asia’s VLSFO-HSFO premium, known as the Hi-5 spread, reached its lowest level since October 2021, standing at $102.50 per metric ton for August. The narrowing spread is attributed to increasing selling interest and multiple offers for VLSFO cargoes in July and early August. Meanwhile, the HSFO market has shown strength, with cash differentials and product cracks experiencing positive movements.
Did you subscribe to our newsletter?
It’s free! Click here to subscribe!
Source: XMZA
