Asia’s spot differential for very low sulphur fuel oil (VLSFO) was steady on Friday, after posting four consecutive sessions of gains in the week, amid thin activity at the trading window.

Cash premium for VLSFO traded at $2.63 per metric ton to Singapore quotes.

High sulphur fuel oil (HSFO) discounts narrowed day-on-day, to $1.10 per ton on Friday, from $1.25 in the previous session.

INVENTORY DATA
– Fuel oil stocks held independently in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose slightly to 1.049 million metric tons in the week to Thursday, compared with 1.046 million tons in the prior week, Dutch consultancy Insights Global’s data showed.

OTHER NEWS
– Oil prices fell on Friday, but were set for a weekly gain, tugged between uncertainty about Russian supply and expectations of lower demand as the summer driving season in the United States, the world’s biggest fuel consumer, nears its close.
– Saudi Arabia, the world’s biggest oil exporter, may cut October crude oil prices for Asian buyers amid ample supply and weaker demand, refining sources said.
– Indian refiners boosted U.S. crude oil purchases this month, drawn by competitive prices, trade sources said, a move that could help narrow the country’s trade deficit with the United States amid tensions between the two nations.

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