ASIA'S 180-CST FUEL OIL SPINS TO A PREMIUM FOR THE FIRST TIME IN FOUR MONTHS.
Cash differentials of Asia's benchmark 180-cst fuel oil flipped to a premium for the first time in four months, last Wednesday and ex-wharf premiums remained steady above $1 a tonne to Singapore quotes amid robust demand for bunkering fuels.
One 40,000 tonne 180-cst fuel oil cash deal was reported in the Platts window last Wednesday, trading at a premium of about $1 a tonne to Singapore quotes for the first time in months. Cash differentials of the benchmark 180-cst fuel oil FO180-SIN-DIF were assessed at a premium of 26 cents a tonne to Singapore quotes, the highest since March 22.
Another 80,000 tonnes of the more actively traded 380-cst fuel oil changed hands in the window, albeit at slightly weaker price levels, weighing on cash differentials.
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|Publication:||Pakistan & Gulf Economist|
|Date:||Jul 24, 2016|
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