AVN 65.20 Increased By ▲ 0.25 (0.38%)
BAFL 30.74 Decreased By ▼ -0.77 (-2.44%)
BOP 4.80 Increased By ▲ 0.01 (0.21%)
CNERGY 3.71 Decreased By ▼ -0.13 (-3.39%)
DFML 14.21 Decreased By ▼ -0.20 (-1.39%)
DGKC 41.05 Decreased By ▼ -0.55 (-1.32%)
EPCL 46.45 Decreased By ▼ -0.25 (-0.54%)
FCCL 11.40 Increased By ▲ 0.11 (0.97%)
FFL 5.05 No Change ▼ 0.00 (0%)
FLYNG 5.80 Decreased By ▼ -0.02 (-0.34%)
GGL 10.33 Decreased By ▼ -0.12 (-1.15%)
HUBC 66.87 Increased By ▲ 1.23 (1.87%)
HUMNL 5.71 Increased By ▲ 0.05 (0.88%)
KAPCO 27.76 Increased By ▲ 0.01 (0.04%)
KEL 2.20 Increased By ▲ 0.05 (2.33%)
LOTCHEM 24.90 Increased By ▲ 0.55 (2.26%)
MLCF 21.44 Decreased By ▼ -0.04 (-0.19%)
NETSOL 83.60 Decreased By ▼ -1.19 (-1.4%)
OGDC 85.90 Decreased By ▼ -1.35 (-1.55%)
PAEL 11.01 Increased By ▲ 0.03 (0.27%)
PIBTL 4.22 No Change ▼ 0.00 (0%)
PPL 74.48 Decreased By ▼ -1.22 (-1.61%)
PRL 13.43 Decreased By ▼ -0.22 (-1.61%)
SILK 0.92 Increased By ▲ 0.03 (3.37%)
SNGP 40.40 Decreased By ▼ -0.93 (-2.25%)
TELE 5.86 Increased By ▲ 0.01 (0.17%)
TPLP 15.40 Decreased By ▼ -0.24 (-1.53%)
TRG 111.41 Decreased By ▼ -0.29 (-0.26%)
UNITY 13.75 Decreased By ▼ -0.23 (-1.65%)
WTL 1.14 Decreased By ▼ -0.02 (-1.72%)
BR100 4,037 Decreased By -26.9 (-0.66%)
BR30 14,412 Decreased By -56.6 (-0.39%)
KSE100 40,471 Decreased By -262.4 (-0.64%)
KSE30 15,163 Decreased By -67.2 (-0.44%)
Follow us

SINGAPORE: Asia’s 0.5% very low-sulphur fuel oil (VLSFO) crack held steady on Thursday as crude oil prices dipped, while the front-month time spread dipped following a recent spike in the backwardation structure.

The VLSFO market has firmed over the past week amid few signs of easing supply tightness for finished-grade VLSFO as blendstock supplies remain thin.

The front-month crack rose 2 cents a barrel from yesterday to $16.75 a barrel above Dubai crude, while the front-month time spread slipped 25 cents to $17.50 a tonne on Thursday, Refinitiv-Eikon data showed.

This came amid elevated trade liquidity in the fuel oil paper markets on Thursday, broker sources said.

Meanwhile, Singapore residual fuel oil inventories rose 6% in the week to Jan. 12, climbing further away from multi-month lows at the end of 2021 despite a dip in weekly net import volumes, official data showed on Thursday.

Onshore fuel oil stocks rose by 1.29 million barrels, or about 202,000 tonnes, to a seven-week high of 22.34 million barrels, or 3.32 million tonnes, in the week to Wednesday, Enterprise Singapore data showed.

The increase helped lift residual fuel inventories further away from a three-month low of 19.56 million barrels in the week to Dec. 29.

The weekly inventories, however, were steady from year-ago levels and slightly below the 2021 weekly average of 22.48 million barrels.

Singapore fuel oil net imports were at a two-week low of 786,000 tonnes in the week to Wednesday, down 19% from the previous week but above the 2021 weekly average of 660,000 tonnes. Weekly figures, however, are volatile.

The largest net imports were from the floating storage hub of Malaysia at 310,000 tonnes, followed by Brazil at 206,000 tonnes and 67,000 tonnes each from Thailand and the United Arab Emirates.

Comments

Comments are closed.

VLSFO crack steadies, time spread dips

PM Shehbaz says IMF giving Pakistan tough time over unlocking loan

Roshan Digital Accounts: inflow clocks in at meagre $110mn in January

Apex committee decides to engage Afghan govt for final action against TTP

Pakistan’s oil industry on brink of collapse, says OCAC

China says it ‘regrets’ unmanned airship’s entry into US airspace

Fed seen hiking policy rate above 5% as hiring surges

Cotton arrival plunges 36% year-on-year

KSE-100 retreats 0.64% as rupee falls further

Imran Khan decides against contesting by-elections on 33 NA seats

2 terrorists killed in North Waziristan: ISPR