Asia Fuel Oil — Premiums little changed, more regional supplies eyed
SINGAPORE, Oct 13 (Reuters) — Spot premiums for Asia fuel oil were broadly stable on Tuesday in thin activity, while more regional supplies are expected. India's HPCL offered two cargoes of HSFO for loading in late October and early November, market sources said. FUEL/TENDA Separately, Indonesia's Pertamina this week sold three cargoes of low-sulphur waxy residue for loading in November. Broader trade remained largely thin, with cash premiums for both Singapore high sulphur fuel oil (HSFO) and very low sulphur fuel oil (VLSFO) holding rangebound on Tuesday. Meanwhile, cracks for both grades trekked higher. The 380-cst HSFO crack soared to above $10 a barrel at the Asia close, LSEG data showed, while the VLSFO crack climbed above $27 a barrel. Refinery Updates - South Korea's SK Energy has purchased its first January arrival US West Texas Intermediate crude, traders said, marking one of the few US crude deals for Asian refiners in recent weeks, amid soaring tanker rates. Other News - Oil prices fell on Tuesday, as traders assessed supply risks from attacks on Saudi Arabia while weighing the prospect of additional diesel supplies from Russia. O/R - Investors traded a record volume of
SINGAPORE, Oct 13 (Reuters) — Spot premiums for Asia fuel oil were broadly stable on Tuesday in thin activity, while more regional supplies are expected. India's HPCL offered two cargoes of HSFO for loading in late October and early November, market sources said. FUEL/TENDA Separately, Indonesia's Pertamina this week sold three cargoes of low-sulphur waxy residue for loading in November. Broader trade remained largely thin, with cash premiums for both Singapore high sulphur fuel oil (HSFO) and very low sulphur fuel oil (VLSFO) holding rangebound on Tuesday.
Meanwhile, cracks for both grades trekked higher. The 380-cst HSFO crack soared to above $10 a barrel at the Asia close, LSEG data showed, while the VLSFO crack climbed above $27 a barrel. Refinery Updates - South Korea's SK Energy has purchased its first January arrival US West Texas Intermediate crude, traders said, marking one of the few US crude deals for Asian refiners in recent weeks, amid soaring tanker rates. Other News - Oil prices fell on Tuesday, as traders assessed supply risks from attacks on Saudi Arabia while weighing the prospect of additional diesel supplies from Russia.
O/R - Investors traded a record volume of ICE Brent options contracts in the third quarter as they rushed to hedge their positions in the volatile oil price environment, the Intercontinental Exchange said on Tuesday. 5 billion in impairments relating to its gas and low-carbon energy segment. - Several tankers carrying Atlantic-sourced liquefied natural gas have diverted towards Europe, away from Asia, in recent days, as expectations of stronger winter demand amid seasonally low gas inventories boost the region's pull on global supplies. com)