Asia’s very low sulphur fuel oil (VLSFO) market extended losses on Friday amid hopes of abundant supply in the next months.

Singapore cash differential was pegged at a discount of 28 cents per metric ton.

As for the high sulphur fuel oil market, spot premiums for 380-cst grade of the fuel traded lower at 40 cents per ton, down 20 cents from a day earlier.

INVENTORY DATA

Fuel oil stocks held independently in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub were down 5% to their lowest since July at 986,000 tons, data from Insights Global showed.

OTHER NEWS

– Oil prices dropped on Friday as worries over fuel demand outweighed expectations that the year’s first interest rate cut by the U.S. Federal Reserve would trigger more consumption.
– Indonesia will allow private fuel retailers, such as Shell and BP, to import more gasoline through state energy firm Pertamina as their petrol stations are running dry, the energy minister said.

WINDOW TRADES

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