SINGAPORE: Asia’s front-month crack for 0.5% very low-sulphur fuel oil (VLSFO) rose on Friday, partly supported by expectations for tighter supplies in the near term due to limited Western arbitrage exports to Asia.
The front-month VLSFO crack edged higher to $21.22 per barrel against Dubai crude during Asian trading hours, compared with a near two-month low of $21.09 per barrel on Thursday.
The crack for the marine fuel grade, however, has shed 9% this week, Refinitiv data showed.
Cash premiums for Asia’s 0.5% VLSFO climbed to $22.55 a tonne to Singapore quotes, up from $20.23 per tonne a day earlier.
Meanwhile, Asia’s cash premiums for 380-cst high sulphur fuel oil (HSFO) slipped to $26.43 per tonne to Singapore quotes, as against a premium of $26.58 per tonne in the previous session.
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