ReutersReuters

VLSFO premium dips for third straight day, cracks post weekly losses

Asia's spot cash premium for very low sulphur fuel oil (VLSFO) dipped for a third straight session on Friday amid selling interest, while refining cracks posted weekly declines despite lower crude oil prices week-on-week.

The 0.5% VLSFO cash differential fell by over $2 day-on-day to a premium of $15.70 a tonne to Singapore quotes, with three trades emerging on Friday.

Front-month January cracks for VLSFO (LFO05SGDUBCMc1) posted weekly declines of more than 6%, down at $10.88 a barrel to Dubai quotes at Friday's Asia close (0830 GMT).

The high sulphur fuel oil (HSFO) market has also come under pressure amid expectations of more incoming supplies.

The 380-cst HSFO cash differential (FO380-SIN-DIF) fell by 77 cents to a thin premium of 15 cents a tonne on Friday, while the 180-cst HSFO cash differential (FO180-SIN-DIF) ended the week in discounts.

ARA INVENTORIES (STK-FO-ARA)

Fuel oil inventories in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub climbed by 7% week-on-week to 1.08 million tonnes in the week ended Dec. 8, latest data from Dutch consultancy Insights Global showed.

OTHER NEWS

WINDOW TRADES

- 180-cst HSFO: No trade

- 380-cst HSFO: One trade

- 0.5% VLSFO: Three trades

ASSESSMENTS

FUEL OIL

CASH ($/T)

ASIA CLOSE

CHANGE

PREV CLOSE

RIC

Cargo - 0.5% VLSFO

545.70

-13.13

558.83

(MFO05-SIN)

Diff - 0.5% VLSFO

15.70

-2.95

18.65

(MFO05-SIN-DIF)

Cargo - 180cst

368.06

13.15

354.91

(FO180-SIN)

Diff - 180cst

-0.47

1.08

-1.55

(FO180-SIN-DIF)

Cargo - 380cst

351.93

11.45

340.48

(FO380-SIN)

Diff - 380cst

0.15

-0.77

0.92

(FO380-SIN-DIF)

Bunker (Ex-wharf) Premium - 380cst

12.00

0.00

12.00

Bunker (Ex-wharf) Premium - 0.5% VLSFO

21.00

-2.00

23.00

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)

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