AGL 40.40 Increased By ▲ 0.20 (0.5%)
AIRLINK 129.25 Increased By ▲ 0.14 (0.11%)
BOP 6.81 Increased By ▲ 0.21 (3.18%)
CNERGY 4.13 Increased By ▲ 0.10 (2.48%)
DCL 8.73 Increased By ▲ 0.28 (3.31%)
DFML 41.40 Increased By ▲ 0.15 (0.36%)
DGKC 87.75 Increased By ▲ 0.75 (0.86%)
FCCL 33.85 Increased By ▲ 0.50 (1.5%)
FFBL 66.40 Increased By ▲ 0.50 (0.76%)
FFL 10.69 Increased By ▲ 0.15 (1.42%)
HUBC 113.51 Increased By ▲ 2.81 (2.54%)
HUMNL 15.65 Increased By ▲ 0.42 (2.76%)
KEL 4.87 Increased By ▲ 0.09 (1.88%)
KOSM 7.62 Decreased By ▼ -0.21 (-2.68%)
MLCF 43.10 Increased By ▲ 1.20 (2.86%)
NBP 61.50 Increased By ▲ 1.00 (1.65%)
OGDC 192.20 Increased By ▲ 9.40 (5.14%)
PAEL 27.05 Increased By ▲ 1.69 (6.66%)
PIBTL 7.26 Increased By ▲ 1.00 (15.97%)
PPL 150.50 Increased By ▲ 2.69 (1.82%)
PRL 24.96 Increased By ▲ 0.40 (1.63%)
PTC 16.25 Increased By ▲ 0.01 (0.06%)
SEARL 71.30 Increased By ▲ 0.80 (1.13%)
TELE 7.25 Decreased By ▼ -0.05 (-0.68%)
TOMCL 36.29 Decreased By ▼ -0.01 (-0.03%)
TPLP 8.05 Increased By ▲ 0.20 (2.55%)
TREET 16.30 Increased By ▲ 1.00 (6.54%)
TRG 51.56 Decreased By ▼ -0.14 (-0.27%)
UNITY 27.35 No Change ▼ 0.00 (0%)
WTL 1.27 Increased By ▲ 0.04 (3.25%)
BR100 9,957 Increased By 115.5 (1.17%)
BR30 30,770 Increased By 733.6 (2.44%)
KSE100 93,292 Increased By 771.2 (0.83%)
KSE30 29,017 Increased By 230.5 (0.8%)

SINGAPORE: Asia’s front-month crack for 0.5% very low-sulphur fuel oil (VLSFO) rose for a third straight session on Friday, climbing to a nearly two-week high, lifted by active demand and tight supplies.

The front-month VLSFO crack climbed to $22.86 per barrel against Dubai crude during Asian trading hours, the strongest since April 18. The crack was at $21.65 a barrel on Thursday.

The VLSFO crack jumped 7.7% so far this week, the biggest weekly gain since March 11, Refinitiv Eikon data showed.

Cash premiums for Asia’s 0.5% VLSFO slipped 75 cents to $18.70 a tonne to Singapore quotes, weighed down by two weaker deals in the physical market on Friday. Asia’s cash premiums for 380-cst high sulphur fuel oil (HSFO) rose to $28.92 per tonne to Singapore quotes, as against $28.73 per tonne in the previous session.

The cash premiums for 180-cst HSFO were at a premium of $36.35 per tonne to Singapore quotes on Friday, 30 cents lower from Thursday. Companies reopening factories in locked-down Shanghai are booking hotel rooms to house workers and turning vacant workshops into on-site isolation facilities as authorities urge them to resume work while complying with tough COVID-19 curbs. Hundreds of companies including multinationals Tesla and 3M have reopened factories in the Chinese economic hub under local guidelines requiring them to isolate workers inside a “closed-loop”.

But executives say they are not yet running at full capacity and describe the process as far from straightforward, given the logistical hassles of compliance, including a lack of space, and having many workers remain stuck at home in locked-down housing compounds.

Fuel oil stocks held independently in the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub rose 1.4% to 967,000 tonnes in the week ended April 28, data from Dutch consultancy Insights Global showed. This comes after Singapore’s onshore fuel oil stocks fell to a seven-month low of 19.1 million barrels, or about 2.9 million tonnes, in the week ended April 27, according to the Enterprise Singapore data.

Comments

Comments are closed.