AVN 64.02 Decreased By ▼ -0.57 (-0.88%)
BAFL 28.78 Decreased By ▼ -0.47 (-1.61%)
BOP 4.03 Increased By ▲ 0.01 (0.25%)
CNERGY 3.46 Decreased By ▼ -0.02 (-0.57%)
DFML 11.78 Increased By ▲ 0.08 (0.68%)
DGKC 43.91 Increased By ▲ 1.46 (3.44%)
EPCL 46.78 Increased By ▲ 0.58 (1.26%)
FCCL 11.96 Increased By ▲ 0.10 (0.84%)
FFL 5.41 Decreased By ▼ -0.08 (-1.46%)
FLYNG 5.82 Increased By ▲ 0.03 (0.52%)
GGL 10.57 Decreased By ▼ -0.10 (-0.94%)
HUBC 67.53 Increased By ▲ 0.43 (0.64%)
HUMNL 5.40 Decreased By ▼ -0.02 (-0.37%)
KAPCO 24.09 Increased By ▲ 0.04 (0.17%)
KEL 2.07 Increased By ▲ 0.01 (0.49%)
LOTCHEM 25.35 Increased By ▲ 0.22 (0.88%)
MLCF 25.98 No Change ▼ 0.00 (0%)
NETSOL 73.23 Decreased By ▼ -0.77 (-1.04%)
OGDC 83.36 Decreased By ▼ -0.49 (-0.58%)
PAEL 11.30 Increased By ▲ 0.75 (7.11%)
PIBTL 4.22 Increased By ▲ 0.43 (11.35%)
PPL 63.96 Increased By ▲ 0.16 (0.25%)
PRL 12.14 Decreased By ▼ -0.13 (-1.06%)
SILK 0.88 Increased By ▲ 0.02 (2.33%)
SNGP 39.09 Decreased By ▼ -0.21 (-0.53%)
TELE 7.44 Decreased By ▼ -0.25 (-3.25%)
TPLP 14.20 Increased By ▲ 0.15 (1.07%)
TRG 106.04 Increased By ▲ 0.27 (0.26%)
UNITY 13.29 Increased By ▲ 0.19 (1.45%)
WTL 1.18 Decreased By ▼ -0.01 (-0.84%)
BR100 4,056 Increased By 20.6 (0.51%)
BR30 14,367 Increased By 35 (0.24%)
KSE100 40,001 Increased By 152.5 (0.38%)
KSE30 14,853 Increased By 85.8 (0.58%)
Follow us

NEW DELHI: Asia’s spot fuel oil premiums for high sulphur fuel oil (HSFO) advanced on Wednesday after stocks at Fujairah hub declined.

The 180-cst HSFO cash differential jumped by $1.48 to $5.66 a tonne, while the 380-cst HSFO cash differential rose to $7.04 a tonne.

At the Singapore trading window, energy trader P66 was back to purchase 180-cst high sulphur grade.

Analysts at FGE noted that any overhang of Russian high sulphur residue was mopped up by strong Chinese buying for use as a secondary feedstock.

“It needs to be pointed, however, that the likes of China and India will not always be around to snap up Russian residue cargoes. Intermittent buying patterns would increase volatility into the Asian HSFO crack,” they said in a note.

Fuel oil stocks at the Fujairah trading hub dropped by 1.474 million barrels to a three-week low of 19.407 million barrels in the week to March 13, according to S&P Global Commodity Insights.

Oil storage demand and transit volumes are poised to grow further at the United Arab Emirates’ Fujairah port this year as Russian trade flows continue to flood the hub, while latest price caps on Russian petroleum products have a mild impact on trade, industry executives said on Tuesday.

Comments

Comments are closed.

HSFO premiums gain steam as Fujairah stocks fall

Renewable energy sector: PM urges UAE firm to make investment

Textile exports may fall by $3bn this year, warns APTMA

Hajj 2023: Banks receive nearly 73,000 applications

Rating downgrades may have added to IMF’s concerns: Pasha

India regulator probing some Adani offshore deals for possible rule violations

Most of India to face above-normal April-June heat

If not effected, up to 9pc of amount to be marked as lien: SBP asks exporters to bring in delayed proceeds by 30th

Corporate farming: LHC stays handing over of land to army

All categories of consumers: Nepra approves Rs3.23/ unit surcharge

China has rolled over $2bn loan, Dar tells Senate