Asia Fuel Oil-HSFO cash premiums down for eighth straight session

Reuters03-24
Asia Fuel Oil-HSFO cash premiums down for eighth straight session

NEW DELHI, March 24 (Reuters) - Asia's high sulphur fuel oil cash differentials remained week on Monday as oversupply concerns persisted.

Singapore's 380-cst HSFO cash premium dropped for an eighth straight session to $14.92 a metric ton. The very low sulphur fuel oil (VLSFO) fell by 22 cents to about $14 per ton.

Trading activity at the deals window remained tepid for a third consecutive session. Market participants said Asian players are expecting more supplies from the Middle East and Africa.

OTHER NEWS

- Oil prices climbed in choppy trade on Monday as investors weighed the impact of fresh U.S. sanctions on Iranian exports against talks to end the war in Ukraine, which could increase supply of Russian crude to global markets. O/R

- U.S. and Russian officials began talks in Saudi Arabia on Monday aimed at making progress towards a broad ceasefire in Ukraine with Washington eyeing a separate Black Sea maritime ceasefire deal before securing a wider agreement.

- China Petroleum & Chemical Corp, known as Sinopec, reported a 16.8% decline in 2024 net profit, citing lower crude oil prices and the accelerated development of the new energy vehicle $(NEV)$ industry.

WINDOW TRADES O/AS

- 180-cst HSFO: No trade

- 380-cst HSFO: No trade

- 0.5% VLSFO: No trade

ASSESSMENTS

FUEL OIL

CASH ($/T)

ASIA CLOSE

CHANGE

PREV CLOSE

RIC

Cargo - 0.5% VLSFO

502.17

1.00

501.17

MFO05-SIN

Diff - 0.5% VLSFO

-0.99

0.09

-1.08

MFO05-SIN-DIF

Cargo - 180cst

464.82

0.54

464.28

FO180-SIN

Diff - 180cst

14.01

-0.22

14.23

FO180-SIN-DIF

Cargo - 380cst

454.47

5.60

448.87

FO380-SIN

Diff - 380cst

14.92

-0.10

15.02

FO380-SIN-DIF

Bunker (Ex-wharf) Premium - 380cst

4.54

-0.10

4.64

Bunker (Ex-wharf) Premium - 0.5% VLSFO

3.00

-0.10

3.10

For a list of derivatives prices, please refer to ENSWAP/INFO or the RICs below:

180cst M1

FO180SGSWMc1

180cst M1/M2

FO180SGSDMc1

380cst M1

FO380SGSWMc1

380cst M1/M2

FO380SGSDMc1

0.5% VLSFO M1

LFO05FSGMc1

0.5% VLSFO M1/M2

LFO05FSGSMc1

Cracks 180cst-Brent M1

FO180BRTCKMc1

Cracks 180cst-Dubai M1

FO180SGCKMc1

Cracks 380cst-Brent M1

FO380BRTCKMc1

Cracks 380cst-Dubai M1

FO380DUBCKMc1

Cracks 0.5% VLSFO-Brent M1

LFO05SGBRTCMc1

Cracks 0.5% VLSFO-Dubai M1

LFO05SGDUBCMc1

Visco 180cst/380cst M1

FOVISSGDFMc1

Hi-5 0.5% VLSFO/380cst M1

FO05-380SGMc1

GoFo 10PPM/0.5% VLSFO M1

GO10FO05FSGMc1

East-West M1

FOSGEWMc1

Barges M1

HFOFARAAMc1

Barges M1/M2

HFOFARAASMc1

Crack Barges-Brent M1

HFOFARAACMc1

(Reporting by Mohi Narayan; Editing by Janane Venkatraman)

((mohi.narayan@thomsonreuters.com))

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