Spot differentials for Asia high sulphur fuel oil (HSFO) steadied on Friday after sharp declines earlier this week, but ended the week in steep discounts to cargo quotes.
The market remained pressured due to high supplies and slow demand.
Cracks for 380-cst HSFO closed at discounts near $2 a barrel to crude futures, sliding from the previous week.
Meanwhile, the very low sulphur fuel oil (VLSFO) market was firmer, with cracks closing at premiums above $11 a barrel to crude.
The hi-5 marker remained wide at $84.60 a ton on Friday, higher week-on-week as HSFO softened while VLSFO strengthened.
PRICING NEWS
– Commodities pricing agency S&P Global Platts will no longer be reflecting three floating storage units as loading points in its assessments of Singapore fuel oil cargoes and ex-wharf bunker fuel, the company said in a note to subscribers.
WINDOW TRADES
– 180-cst HSFO: No trade
– 380-cst HSFO: Seven trades
– 0.5% VLSFO: Two trades
Source: Reuters
