NEW DELHI: Asia’s very low sulphur fuel oil (VLSFO) cash premiums extended declines on Friday, after European inventories rose.
The cash differential for 0.5% very low sulphur fuel oil (VLSFO) slipped by 8 cents to $13.47 a tonne to Singapore quotes.
“Higher Asian regional supplies have contributed to lower cracks in Singapore even as Singapore bunker demand has recovered, exceeding our expectations by 66,000 barrels per day in November,” consultancy Energy Aspects said in a note.
Meanwhile, the cash differential for 380-cst HSFO fell by 17 cents to a premium of $5.27 a tonne to Singapore quotes.
Fuel oil stocks at the commercial hub of Amsterdam-Rotterdam-Antwerp (ARA) rose to 1.114 million tonnes in the week to Dec. 22, compared with 1.057 million tonnes in the prior week, Insights Global data showed.
Taiwan’s Formosa sold 40,000 tonne of main column bottoms (MCB) to oil major Shell at $129-130 per tonne discount for loading during January 18-20 from Mailiao, market sources said.
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