Asia’s spot market differentials for key fuel oil grade were steady, with discount of 380-cst grade narrowing from the previous session.

Spot differential for high sulphur fuel oil (HSFO) 380-cst grade was assessed at discounts of about $1.60 per metric ton to cargo quotes.

Very low sulphur fuel oil (VLSFO) differential discount narrowed at 45 cents per ton.

OTHER NEWS

– Oil prices rose on Monday as investors weighed the outcome of talks between the U.S. and Ukrainian presidents on a potential deal to end the war in Ukraine, as well as Middle East tensions that could disrupt supply.
– U.S. President Donald Trump said on Sunday he and Ukrainian President Volodymyr Zelenskiy were “getting a lot closer, maybe very close” to an agreement to end the war in Ukraine, while acknowledging the fate of the Donbas region remains a key unresolved issue.
– India is seeking over $30 billion in compensation from Reliance Industries RELIANCE1! and BP BP. in an arbitration case for gas it says the companies failed to produce from offshore fields, according to three people with knowledge of the matter.
– Brazil’s Superior Labor Court ruled staffing levels to remain at 80% at all Petrobras PETR3 facilities in Brazil as negotiations between workers at the state-run oil company drag on amid a prolonged strike.

WINDOW TRADES

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