Asia Fuel Oil-380-cst cash premiums near 1-month low, spreads recoup some losses

SINGAPORE: Cash premiums of Asia's 380-cst high-sulphur fuel oil fell to a near one-month low on Tuesday amid weaker deal values in the Platts pricing window, industry sources said.

In the paper markets, the Nov/Dec 380-cst time spread halted two sessions of declines, edging up to $1.75 a tonne from a near-one-month low of $1.50 a tonne in the previous session. The 380-cst Nov/Dec time spread was trading at a premium of $2.75 a tonne at the start of the month.

Lower expectations of tight Singapore fuel oil supplies in the coming months has scaled back some gains in 380-cst fuel oil cash premiums and time spreads which rose to multi-month highs in late-September.