Cash premiums for fuel oil climbed in Asia on Tuesday as trading momentum retained its robust pace in recent sessions. The 380-cst high sulphur fuel oil (HSFO) differential was pegged at a premium above $12 a metric ton, with a flurry of trades persisting on the window. Meanwhile, very low sulphur fuel oil (VLSFO) traded at a largely stable premium of $7 a metric ton. Refining margins closed lower for both grades with crude futures edging higher in the day. Prompt-month cracks for HSFO closed into discounts versus both Brent and Dubai quotes, respectively, while VLSFO cracks closed at premiums slightly above $10 a barrel. REFINERY UPDATES – U.S. oil refiners are expected to have about 210,000 barrels per day (bpd) of capacity offline in the week ending June 13, increasing available refining capacity by 66,000 bpd, research company IIR Energy said this week. Source: Reuters