SINGAPORE: Cash differentials for high sulphur fuel oil (HSFO) in Asia extended gains on Monday amid steady buying interest in recent trading sessions.
The 180-cst HSFO cash differential rose by $1.30 to $5.18 per tonne over Singapore quotes on Monday, while the 380-cst HSFO cash differential climbed by $3.70 to $16.11 per tonne.
Three 180-cst HSFO cargoes traded on Monday at steady to firmer premiums from the previous week, while one 380-cst HSFO cargo also traded at a stronger premium over the same period.
While active spot buying interest had lifted the cash premiums, some trade sources said that am ample HSFO supply pool is likely to keep the price recovery capped, while downstream bunkering demand was stable.
Meanwhile, the cash differential for very low sulphur fuel oil (VLSFO) inched 36 cents higher to a premium of $16.39 per tonne over Singapore quotes.
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