SINGAPORE: Asia's 180-centistoke (cst) fuel oil crack at a discount of about $1.85 to Dubai crude was mostly unchanged on Tuesday from the previous session after it hit near a two-month low due to ample supplies.
- Unlike other oil products such as naphtha, the shutdown of most units at the 404,000 barrel per day Pernis oil refinery in Rotterdam operated by Royal Dutch Shell following a power supply fire failed to turn the fuel oil market around.
TENDERS
- Taiwan's CPC was seeking 20,000 tonnes of fuel oil with 0.3 percent sulphur content and another 40,000 tonnes of fuel oil with 0.5 percent sulphur content for September delivery through a tender due to be awarded on Aug. 4.
- Separately, the shutdown of CPC's gasoline-making unit in about a month's time could lead to more fuel oil offered in the market.
- Traders said while CPC will shut an 80,000 barrels per day residue fluid catalytic cracker (RFCC), which uses fuel oil as feedstock, it may not lower throughput at its crude units.
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