SINGAPORE: Asia’s spot fuel oil premiums were little changed in thin activity on Monday, while downstream bunkering premiums found a floor as demand improved slightly at the start of a new trading week.
The 0.5% VLSFO cash differential was down slightly from the previous session at $5.60 a tonne on Monday.
Premiums on 0.5% low-sulphur bunker fuel, traded on a delivered basis, were range-bound between $10 and $15 a tonne over Singapore quotes on Monday, traders said.
The recent downtrend in bunker fuel premiums paused as spot buying inquiries in Singapore improved after crude oil prices steadied, they added.
Meanwhile, India’s MRPL has offered 40,000 tonnes of 0.5% marine fuel for March 25-27 loading. The tender closes on Monday with same-day validity.
Oil prices edged up in volatile trade on Monday as Russia halted exports to Poland via a key pipeline ahead of a hefty supply cut announced for March. However, gains were capped by a stronger dollar and recession fears.
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