Asia fuel oil market extends losses

SINGAPORE: Asia fuel oil market extended losses on Friday with a continued increase in stockpile in the regional trading hub of Singapore amid a weak demand outlook, traders said.

The benchmark 180-cst grade slipped $2.66 a barrel to $609.71 a tonne from a day earlier.

Fuel oil stocks in Singapore rose last week to 23.437 million barrels, the highest in months, following strong exports from the West.

The outlook is seen weak unless there is an improvement in demand as more supplies from west are expected in coming due weak demand at home.