Asia Fuel Oil — HSFO crack climbs to more than seven — month high

SINGAPORE, Oct 14 (Reuters) — High sulphur fuel oil (HSFO) crack for the 380-cst product rose to its highest in more than seven months in Asia on Wednesday, as trade sources continued to eye pockets of supply tightness. The 380-cst HSFO/Brent crack soared to nearly $12 a barrel at the Asia close, LSEG data showed. Trade sources said that HSFO availability took an uncertain turn again after the latest attacks seen in the Middle East. Meanwhile, high freight costs may also disrupt cargo flows, especially for arbitrage fuel, other sources said.

Prompt timespreads for HSFO remained wide in backwardation, supporting spot premiums. As for the very low sulphur fuel oil (VLSFO) market, the product traded at a firmer premium on Wednesday. 30 a barrel. Indonesia's Pertamina offered more residual fuel via its latest tender, comprising a cargo of LSFO for loading in late October from Dumai, totalling 100,000 tons, based on sources.

7 million metric tons for a third consecutive month in September, official data showed on Tuesday. Other News - Oil prices edged higher on Wednesday after an attack on the headquarters of Saudi Arabia's state-owned oil company, while Iranian officials told Reuters they were deploying new tactics to target ships, seeking to keep oil prices high and influence the US midterm elections. O/R - Tight diesel supplies could persist well into next year as conflicts curb output from the Middle East and Russia, while record-high prices spur stock drawdowns ahead of peak winter demand, the International Energy Agency said on Wednesday.

- Equatorial Marine Fuel Management, a top Singapore bunker supplier by volume, plans to channel part of its 2026 profits to fund its expansion into supplying liquefied natural gas to ships as it positions for higher demand from 2028, its executives said. 4 billion in the project after US President Donald Trump told a rally in the state that Taipei would buy 30% of its output. com)