SINGAPORE: Asia's front-month visco spread climbed to an eight-month high on Thursday after steady gains this week.
The March visco spreads, the price differential between 180-cst and 380-cst fuel oil, climbed to $6.75 a tonne on Thursday, up from $5.75 a tonne at the end of the previous week.
Some buying interest for 180-cst fuel oil cargoes in the Singapore trading window helped lift cash premiums of the fuel over recent weeks.
WINDOW TRADES
- One cargo trade was reported in the Platts window, totalling 20,000 tonnes of 180-cst fuel oil.
- Vitol bought the fuel oil cargo from Reliance for delivery on March 6-10 for a 30 cent per tonne premium to Singapore quotes.
- On Tuesday, Vitol bought a similar fuel oil cargo from Reliance for March 1-5 delivery at a higher premium of 65 cents a tonne to Singapore quotes.
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