Asia Fuel Oil-VLSFO premium dips further to seven-week low
SINGAPORE, Oct 7 (Reuters) -Spot premium for very low sulphur fuel oil (VLSFO) extended declines to its lowest in seven weeks, data showed on Monday.
The Asia fuel oil market has softened recently amid prospects of supply recovery into the second-half of the month.
Meanwhile, spot premium for 380-cst high sulphur fuel oil (HSFO) steadied on Monday, after hitting more than a five-month low last week.
Bunker premiums for HSFO have also pared some support, though premiums on a delivered pricing basis remained strong compared to cargo premiums.
REFINERY
- Iraq's Kerbala refinery is under extensive maintenance and has been non-operational since Sept. 25, a source with direct knowledge of the matter told Reuters.
OTHER NEWS
- Oil prices extended gains on Monday, driven by fears of a wider Middle East conflict and potential disruption to exports from the major oil-producing region. O/R
- Top oil exporter Saudi Arabia has raised the November price for its flagship Arab light crude to Asia to its highest levels since July.
- Shell's refining profit margins dropped sharply in the third quarter from the previous three months as global demand sagged, while oil product trading earnings also weakened, it said on Monday.
- BP has abandoned a target to cut oil and gas output by 2030 as CEO Murray Auchincloss scales back the firm's energy transition strategy to regain investor confidence, three sources with knowledge of the matter said.
WINDOW TRADES O/AS
- 180-cst HSFO: No trade
- 380-cst HSFO: One trade
- 0.5% VLSFO: One trade
ASSESSMENTS
FUEL OIL | ||||
CASH ($/T) | ASIA CLOSE | CHANGE | PREV CLOSE | RIC |
Cargo - 0.5% VLSFO | 583.67 | 1.19 | 582.48 | MFO05-SIN |
Diff - 0.5% VLSFO | 5.05 | -1.05 | 6.10 | MFO05-SIN-DIF |
Cargo - 180cst | 461.12 | -0.75 | 461.87 | FO180-SIN |
Diff - 180cst | 8.50 | -0.15 | 8.65 | FO180-SIN-DIF |
Cargo - 380cst | 444.60 | -0.25 | 444.85 | FO380-SIN |
Diff - 380cst | 3.50 | -0.15 | 3.65 | FO380-SIN-DIF |
Bunker (Ex-wharf) Premium - 380cst | 15.00 | -2.00 | 17.00 | |
Bunker (Ex-wharf) Premium - 0.5% VLSFO | 14.00 | -2.00 | 16.00 |
For a list of derivatives prices, including margins, please double click the RICs below. | |
Brent M1 | BRENTSGMc1 |
180cst M1 | FO180SGSWMc1 |
180cst M1/M2 | FO180SGSDMc1 |
180cst M2 | FO180SGSWMc2 |
Visco M1 | FOVISSGDFMc1 |
Visco M2 | FOVISSGDFMc2 |
380cst M1 | FO380SGSWMc1 |
380cst M1/M2 | FO380SGSDMc1 |
380cst M2 | FO380SGSWMc2 |
Cracks 180-Dubai M1 | FO180SGCKMc1 |
Cracks 180-Dubai M2 | FO180SGCKMc2 |
East-West M1 | FOSGEWMc1 |
East-West M2 | FOSGEWMc2 |
Barges M1 | HFOFARAAMc1 |
Barges M1/M2 | HFOFARAASMc1 |
Barges M2 | HFOFARAAMc2 |
Crack Barges-Brent M1 | HFOFARAACMc1 |
Crack Barges-Brent M2 | HFOFARAACMc2 |
Reporting by Jeslyn Lerh; Editing by Sonia Cheema
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.