Asia Fuel Oil-HSFO margins post weekly losses

Dow Jones Industrial Average +0.47%
S&P 500 index +0.58%
NASDAQ +0.97%

Dow Jones Industrial Average

DJI

46561.29

+0.47%

S&P 500 index

SPX

6566.61

+0.58%

NASDAQ

IXIC

21800.29

+0.97%

- Margins for high sulphur fuel oil logged weekly declines in Asia amid sell-offs, while very low sulphur fuel oil (VLSFO) was largely rangebound, data showed on Friday.

Prompt-month cracks for 380-cst HSFO FO380BRTCKMc1 closed at premiums of about $2.25 a barrel, down 40% from the previous week. The cracks reached fresh highs near $4 a barrel earlier this month.

Trade sources said that HSFO cracks have pared from recent highs, but are still expected to retain strength into June amid seasonal drivers.

Meanwhile, VLSFO cracks LFO05SGBRTCMc1 closed at about $11.65 a barrel, showing a steady-to-softer trend from last week. Spot differentials eased for a fourth straight session.

More tenders continued to emerge in the spot market. India's IOC offered fuel oil cargoes for June loading, via a tender that closes early next week, based on industry sources.


OTHER NEWS

- Oil prices were on track for a second consecutive weekly decline on Friday, weighed down by expectations of another OPEC+ output hike in July and fresh uncertainty after the latest legal twist kept U.S. President Donald Trump's tariffs in place. O/R

- Ecuador's state oil producer Petroecuador on Thursday declared a 60-day emergency at the South American nation's largest oil refinery, its second emergency in one month, after a fire this week caused damage to some fuel tanks.

- The 650,000-barrel-per-day Dangote oil refinery in Nigeria is expected to operate its gasoline-making unit at reduced rates through October after a string of issues in recent months, industry monitor IIR Energy told Reuters.

- The White House is weighing a plan to clear a record backlog of requests from small refineries for exemptions from U.S. biofuel laws, which could include approving many current applications and requesting industry input to deal with older ones, according to three sources familiar with the plans.


WINDOW TRADES O/AS

- 180-cst HSFO: No trade

- 380-cst HSFO: No trade

- 0.5% VLSFO: No trade


ASSESSMENTS

FUEL OIL





CASH ($/T)

ASIA CLOSE

CHANGE

PREV CLOSE

RIC

Cargo - 0.5% VLSFO

481.35

-10.50

491.85

MFO05-SIN

Diff - 0.5% VLSFO

6.45

-1.30

7.75

MFO05-SIN-DIF

Cargo - 180cst

422.49

-14.17

436.66

FO180-SIN

Diff - 180cst

2.85

-0.15

3.00

FO180-SIN-DIF

Cargo - 380cst

420.56

-13.92

434.49

FO380-SIN

Diff - 380cst

6.75

-0.15

6.90

FO380-SIN-DIF

Bunker (Ex-wharf) Premium - 380cst

3.00

-1.00

4.00


Bunker (Ex-wharf) Premium - 0.5% VLSFO

10.00

0.00

10.00


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 Jeslyn Lerh; Editing by Maju Samuel)

((jeslyn.lerh@thomsonreuters.com))