Asia’s spot discounts for high sulphur fuel oil (HSFO) deepened on Friday, while the very low sulphur fuel oil (VLSFO) market was back into discounts.

Singapore 380-cst HSFO traded at a wider discount of $7.00 and $4.50 a metric ton to cargo quotes. The prompt market remained well supplied, leading to a slew of offers from various trade participants.

Meanwhile, trading for VLSFO was light.

NEWS

OPEC+ is likely to leave oil output levels unchanged at its meetings on Sunday and to agree on a mechanism to assess members’ maximum production capacity, two delegates from the group and a source familiar with OPEC+ talks told Reuters.

An outage at the world’s biggest exchange operator, CME Group, has halted trade on its popular currency platform and in futures spanning foreign exchange, commodities, Treasuries and stocks, freezing a handful of benchmarks as brokers pulled products.

Securing energy from overseas, including from the Sakhalin Project, is extremely important for Japan’s energy security, Japan’s industry ministry said late on Thursday when asked about U.S. sanctions on a key shareholder in the Sakhalin-1 project.
Source: Reuters