Spot differentials for key fuel oil grades softened on Monday, while crack spreads also retreated after recent gains.
The spot 380-cst high sulphur fuel oil (HSFO) market was pegged back in discounts to Singapore quotes on Monday, with backwardation trading down at the prompt months.
Cracks for HSFO also retreated after hitting record highs last week, though still holding steadily in premiums over crude oil quotes.
Meanwhile, Thailand’s PTT offered 25,000 tons of 380-cst HSFO for loading between June 22 and 26.
Very low sulphur fuel oil (VLSFO) traded at a lower premium on Monday compared with the previous session’s quotes.
REFINERY UPDATES
– Malaysia’s Pengerang Refining Company (Prefchem) has restarted one of its two residue fluid catalytic cracking (RFCC) units in the past week after shutting it for repairs early this year, four sources familiar with the matter said.
WINDOW TRADES
– 180-cst HSFO: No trade – 380-cst HSFO: No trade – 0.5% VLSFO: One trade Source: Reuters
