NEW DELHI, May 16 (Reuters) - Asia's low-sulphur fuel oil (VLSFO) rose on Thursday after Singapore inventories dropped to a two-week low.
Cash premiums for VLSFO were up 25 cents at $6.65 a metric ton. Premium for high-sulphur fuel oil (HSFO) on the other hand declined. Cash differential for 180-cst HSFO was pegged at a premium of $8.85 a ton, while premium for 380-cst traded at $7.48 per ton.
Meanwhile, Kuwait Petroleum Corporation (KPC) concluded its term tender offering low-sulphur fuel oil (LSFO) with Qatar Energy, for loading between July and December this year, trade sources said.
INVENTORIES Singapore stocks for fuel oil STKRS-SIN fell 7.89% to 19.115 million barrels (3.01 million metric tons), after hitting a three-week high in the week ended May 8, Enterprise Singapore data showed.
Total imports slumped 58% in the absence of Russian arrivals, while arrivals from top importers Malaysia and Brazil were about halved week-on-week.
OTHER NEWS - Brent oil futures held steady on Thursday, bolstered by signs of stronger demand in the U.S. after slower than expected inflation in April and lower oil stocks in the past week.
- Chevron said it is set to launch the sale of its remaining UK North Sea oil and gas assets, in a move that would mark the U.S. energy giant's exit from the ageing basin after more than 55 years.
- Russia's seaborne oil product exports in April fell 14.6% from the previous month to 8.415 million metric tons due to seasonal and unplanned maintenance at refineries and a fuel export ban, data from industry sources and Reuters calculations showed.
WINDOW TRADES - 180-cst HSFO: No trade - 380-cst HSFO: No trade - 0.5% VLSFO: No trades
ASSESSMENTS FUEL OIL
CASH ($/T) ASIA CLOSE CHANGE PREV RIC CLOSE Cargo - 0.5% VLSFO 607.69 2.74 604.95 MFO05-SIN Diff - 0.5% VLSFO 6.65 0.25 6.40Cargo - 180cst 509.07 1.78 507.29 FO180-SIN Diff - 180cst 8.85 -0.50 9.35 Cargo - 380cst 495.44 3.20 492.24 FO380-SIN Diff - 380cst 7.48 -0.17 7.65 Bunker (Ex-wharf) 7.75 0.00 7.75 Premium - 380cst Bunker (Ex-wharf) 8.00 0.00 8.00 Premium - 0.5% VLSFOFor a list of derivatives prices, including margins, please double click the RICs below. Brent M1 BRENTSGMc1 180cst M1 FO180SGSWMc1 180cst M1/M2 FO180SGSDMc1 180cst M2 FO180SGSWMc2 Visco M1 FOVISSGDFMc1 Visco M2 FOVISSGDFMc2 380cst M1 FO380SGSWMc1 380cst M1/M2 FO380SGSDMc1 380cst M2 FO380SGSWMc2 Cracks 180-Dubai M1 FO180SGCKMc1 Cracks 180-Dubai M2 FO180SGCKMc2 East-West M1 FOSGEWMc1 East-West M2 FOSGEWMc2 Barges M1 HFOFARAAMc1 Barges M1/M2 HFOFARAASMc1 Barges M2 HFOFARAAMc2 Crack Barges-Brent M1 HFOFARAACMc1 Crack Barges-Brent M2 HFOFARAACMc2
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- News: BHP Asia Fuel Oil-VLSFO cash premium rises, Singapore stocks dip
News: BHP Asia Fuel Oil-VLSFO cash premium rises, Singapore stocks dip
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