Asia’s spot market differentials for key fuel oil grades were little changed on Tuesday, with trades for 380-cst grade emerging at the same price levels as the previous session at the Singapore deals window, market participants said.

Spot differential for 380-cst grade traded at discounts of $6 per metric ton to cargo quotes. Meanwhile, 180-cst grade was offered at much steeper discounts of $8.09 per ton.

Very Low Sulphur Fuel Oil (VLSFO) differential was steady at a discount of $1.17 per ton.

OTHER NEWS

– Middle Eastern producers Saudi Arabia, Iraq and Kuwait will raise crude oil supplies to India in December as Indian refiners seek alternatives to Russian barrels, sources at four Indian refiners said on Tuesday.
– Chinese provincial government-backed refiner Yanchang Petroleum is avoiding Russian oil in its latest crude oil tender for deliveries between December and mid-February，two traders with knowledge of the matter said.

WINDOW TRADES

– 180-cst HSFO: No trade
– 380-cst HSFO: Two trades
– 0.5% VLSFO: No trade
Source: Reuters