Asia’s spot premium for high sulphur fuel oil (HSFO) softened on Thursday as trade slowed in recent sessions, while onshore inventories at Singapore climbed for a fourth straight week. The high inventory levels have dampened the broader spot market, with downstream bunker differentials for HSFO marine fuel holding in discounts to cargo quotes, trade sources said. Most of the week’s onshore fuel oil imports hailed from Nigeria, Russia and Mexico, Enterprise Singapore data showed. Meanwhile, very low sulphur fuel oil (VLSFO) was rangebound on Thursday, while cracks hovered above $10 a barrel. HSFO cracks continued to trade at discounts to crude quotes. INVENTORY DATA – Fujairah heavy fuel inventories rose 20.9% to 8.75 million barrels (1.38 million tons) in the week to June 9, FOIZ data published by S&P Global Commodity Insights showed. – Singapore residual fuel inventories were at 23.71 million barrels (about 3.73 million metric tons) in the week to June 11, up 5% from the previous week, Enterprise Singapore data showed. Source: Reuters