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HSFO and VLSFO timespreads softened at the Asia close, while both markets stayed in backwardation into year-end. Cash differentials were slightly lower and fuel oil cracks largely held their strength.
The market structure for fuel oil softened at the Asia close on Monday, as timespreads for both high-sulphur fuel oil (HSFO) and very low-sulphur fuel oil (VLSFO) sold off during the day.Both markets remained in relatively strong backwardation into the end of the year, reflecting uncertainty over p…