Asia's front-month crack for 0.5% very low-sulphur fuel oil (VLSFO) rose on Friday, backed by persistent buying interests and tightening supplies. With less than five days remaining ahead of the IMO deadline to switch to cleaner marine fuels, the 0.5% VLSFO margins climbed to $27.64 a barrel to Brent during Asian trading hours on Friday, Refinitiv Eikon data showed.
The January/February VLSFO time spread narrowed to $12.25 per tonne, down from a more than three-month high of $15 per tonne hit on Thursday. The front-month 380-cst high-sulphur fuel oil (HSFO) barge crack edged higher to a discount of minus $27.13 a barrel to Brent, up from minus $28.01 a tonne on Thursday, Refinitiv data showed. Asia's cash premium for 380-cst HSFO was at $13.94 per tonne to Singapore quotes, compared with $10.19 a tonne on Thursday.
No 0.5% VLSFO deals was reported in the Singapore trading window on Friday; One 380-cst HSFO trade
Oil prices rose on Friday, hitting three-month highs after data showed record online spending by US consumers, stoking faith in the world's no. 1 economy even before the hoped-for end to the trade war between Washington and Beijing.
Japan will send a warship and patrol planes to protect Japanese ships in the Middle East as the situation in the region, from which it sources nearly 90% of its crude oil imports, remains volatile, Japan's top government spokesman said on Friday.
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