Asia’s spot market differentials for key fuel oil grades were steady on Friday, with a flurry of trades emerging at the deals window for high sulphur fuel oil 380-cst grade.

Spot differentials of high sulphur fuel oil (HSFO) traded at a discount $6 per ton to cargo quotes, while differentials for very low sulphur fuel oil traded at a discount of $1.24 per ton.

Meanwhile, Iran’s Revolutionary Guards were reported by maritime security sources to have intercepted the Marshall Islands-flagged oil products tanker, Talara, taking it into Iranian waters, while the vessel’s manager said it had lost contact with the crew.

The tanker was previously sailing off the United Arab Emirates’ coast, maritime sources said on Friday, and was carrying a cargo of high-sulphur gasoil through the Indian Ocean en route to Singapore from Sharjah in the UAE.

OTHER NEWS

– Russia’s Black Sea port of Novorossiysk, a key outlet for Russian commodity shipments, suspended oil exports on Friday after what authorities said was a major Ukrainian drone attack, two industry sources told Reuters.
– Oil prices climbed about 2%, boosted by supply fears after the Black Sea port of Novorossiysk halted oil exports following a Ukrainian drone attack that hit an oil depot in the major Russian energy hub.

WINDOW TRADES

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