Asia Fuel Oil-Cash premiums hold their ground amid unchanged market expectations
SINGAPORE, Nov 6 (Reuters) -Asia's cash premiums for both high-sulphur and low-sulphur fuel oil mostly held their ground on Wednesday, with market expectations little changed from the previous trading session.
Bullishness in the 380-cst high-sulphur fuel oil (HSFO) markets remained, as arrivals from the Middle East are still likely to stay minimal for December amid planned maintenance there, one source said.
Cash premiums for 380-cst HSFO closed at $13 per metric ton.
In the very-low sulphur fuel oil (VLSFO) markets, trader expectations were still present for sufficient supplies in Singapore, given that some off-spec crude cargoes from the Africas region were adding on to the volumes.
However, the consistently elevated cost levels of some blending components in the market and positivity on Chinese buying for their own bunkering requirements, given the lack of export quotas, could minimise any weakness in the market.
Cash premiums for VLSFO remained at $10.50 per metric ton, with a window deal remaining at similar levels.
On the refiner spot sales front, India's Hindustan Petroleum offered a 33,000-ton 300-350 cst HSFO cargo loading Nov. 28-30 via sales tender that closes on Nov. 7.
INVENTORIES
- U.S. crude oil stocks rose while fuel inventories fell last week, market sources said, citing American Petroleum Institute figures on Tuesday. EIA/S
- Residual fuel stockpiles at Fujairah Oil Industry Zone fell to a three-week low of 8.325 million barrels for the week ended Nov. 4, according to industry information service S&P Global Commodity Insights. FUJAIRAH/
NEWS
- Discounts on Iranian crude oil sold to China are at their tightest in around five years as lower exports drive up prices amid concerns that Middle East tensions may disrupt supply, trading sources said.
- Iraq's cabinet said on Tuesday it had ordered the semi-autonomous Kurdish region to immediately transfer its oil output to the country's state-run firm SOMO.
- Oil and gas producers began shutting in U.S. Gulf of Mexico output and pulling workers off platforms on Tuesday ahead of a late hurricane season storm threatening offshore fields.
WINDOW TRADES O/AS
- 180-cst HSFO: No deals
- 380-cst HSFO: No deals
- 0.5% VLSFO: One deal
ASSESSMENTS
FUEL OIL | ||||
CASH ($/T) | ASIA CLOSE | CHANGE | PREV CLOSE | RIC |
Cargo - 0.5% VLSFO | 569.78 | -2.65 | 572.43 | MFO05-SIN |
Diff - 0.5% VLSFO | 10.50 | 0.00 | 10.50 | MFO05-SIN-DIF |
Cargo - 180cst | 460.76 | -0.41 | 461.17 | FO180-SIN |
Diff - 180cst | 15.75 | -0.25 | 16.00 | FO180-SIN-DIF |
Cargo - 380cst | 444.03 | -4.80 | 448.83 | FO380-SIN |
Diff - 380cst | 13.00 | 0.00 | 13.00 | FO380-SIN-DIF |
Bunker (Ex-wharf) Premium - 380cst | 14.50 | 0.00 | 14.50 | |
Bunker (Ex-wharf) Premium - 0.5% VLSFO | 14.75 | 0.00 | 14.75 | |
For a list of derivatives prices, please refer to ENSWAP/INFO or the RICs below: | ||||
180cst M1 | FO180SGSWMc1 | |||
180cst M1/M2 | FO180SGSDMc1 | |||
380cst M1 | FO380SGSWMc1 | |||
380cst M1/M2 | FO380SGSDMc1 | |||
0.5% VLSFO M1 | LFO05FSGMc1 | |||
0.5% VLSFO M1/M2 | LFO05FSGSMc1 | |||
Cracks 180cst-Brent M1 | FO180BRTCKMc1 | |||
Cracks 180cst-Dubai M1 | FO180SGCKMc1 | |||
Cracks 380cst-Brent M1 | FO380BRTCKMc1 | |||
Cracks 380cst-Dubai M1 | FO380DUBCKMc1 | |||
Cracks 0.5% VLSFO-Brent M1 | LFO05SGBRTCMc1 | |||
Cracks 0.5% VLSFO-Dubai M1 | LFO05SGDUBCMc1 | |||
Visco 180cst/380cst M1 | FOVISSGDFMc1 | |||
Hi-5 0.5% VLSFO/380cst M1 | FO05-380SGMc1 | |||
GoFo 10PPM/0.5% VLSFO M1 | GO10FO05FSGMc1 | |||
East-West M1 | FOSGEWMc1 | |||
Barges M1 | HFOFARAAMc1 | |||
Barges M1/M2 | HFOFARAASMc1 | |||
Crack Barges-Brent M1 | HFOFARAACMc1 | |||
Reporting by Trixie Yap; Editing by Tasim Zahid
Pinakabagong Balita
Disclaimer: Ang mga kabilang sa XM Group ay nagbibigay lang ng serbisyo sa pagpapatupad at pag-access sa aming Online Trading Facility, kung saan pinapahintulutan nito ang pagtingin at/o paggamit sa nilalaman na makikita sa website o sa pamamagitan nito, at walang layuning palitan o palawigin ito, at hindi din ito papalitan o papalawigin. Ang naturang pag-access at paggamit ay palaging alinsunod sa: (i) Mga Tuntunin at Kundisyon; (ii) Mga Babala sa Risk; at (iii) Kabuuang Disclaimer. Kaya naman ang naturang nilalaman ay ituturing na pangkalahatang impormasyon lamang. Mangyaring isaalang-alang na ang mga nilalaman ng aming Online Trading Facility ay hindi paglikom, o alok, para magsagawa ng anumang transaksyon sa mga pinansyal na market. Ang pag-trade sa alinmang pinansyal na market ay nagtataglay ng mataas na lebel ng risk sa iyong kapital.
Lahat ng materyales na nakalathala sa aming Online Trading Facility ay nakalaan para sa layuning edukasyonal/pang-impormasyon lamang at hindi naglalaman – at hindi dapat ituring bilang naglalaman – ng payo at rekomendasyon na pangpinansyal, tungkol sa buwis sa pag-i-invest, o pang-trade, o tala ng aming presyo sa pag-trade, o alok para sa, o paglikom ng, transaksyon sa alinmang pinansyal na instrument o hindi ginustong pinansyal na promosyon.
Sa anumang nilalaman na galing sa ikatlong partido, pati na ang mga nilalaman na inihanda ng XM, ang mga naturang opinyon, balita, pananaliksik, pag-analisa, presyo, ibang impormasyon o link sa ibang mga site na makikita sa website na ito ay ibibigay tulad ng nandoon, bilang pangkalahatang komentaryo sa market at hindi ito nagtataglay ng payo sa pag-i-invest. Kung ang alinmang nilalaman nito ay itinuring bilang pananaliksik sa pag-i-invest, kailangan mong isaalang-alang at tanggapin na hindi ito inilaan at inihanda alinsunod sa mga legal na pangangailangan na idinisenyo para maisulong ang pagsasarili ng pananaliksik sa pag-i-invest, at dahil dito ituturing ito na komunikasyon sa marketing sa ilalim ng mga kaugnay na batas at regulasyon. Mangyaring siguruhin na nabasa at naintindihan mo ang aming Notipikasyon sa Hindi Independyenteng Pananaliksik sa Pag-i-invest at Babala sa Risk na may kinalaman sa impormasyong nakalagay sa itaas, na maa-access dito.
