AIRLINK 57.90 Increased By ▲ 2.86 (5.2%)
BOP 6.24 Decreased By ▼ -0.05 (-0.79%)
CNERGY 4.02 Increased By ▲ 0.07 (1.77%)
DFML 15.73 Increased By ▲ 0.09 (0.58%)
DGKC 68.49 Increased By ▲ 2.49 (3.77%)
FCCL 17.72 Increased By ▲ 0.70 (4.11%)
FFBL 25.69 Increased By ▲ 1.24 (5.07%)
FFL 9.26 Increased By ▲ 0.26 (2.89%)
GGL 9.74 Increased By ▲ 0.30 (3.18%)
HBL 111.74 Increased By ▲ 1.74 (1.58%)
HUBC 114.81 Increased By ▲ 1.46 (1.29%)
HUMNL 6.45 Increased By ▲ 0.10 (1.57%)
KEL 4.30 Increased By ▲ 0.02 (0.47%)
KOSM 3.55 Increased By ▲ 0.43 (13.78%)
MLCF 37.42 Increased By ▲ 1.02 (2.8%)
OGDC 117.20 Increased By ▲ 3.71 (3.27%)
PAEL 22.99 Increased By ▲ 0.99 (4.5%)
PIAA 11.31 Increased By ▲ 0.12 (1.07%)
PIBTL 5.71 Increased By ▲ 0.21 (3.82%)
PPL 105.32 Increased By ▲ 2.63 (2.56%)
PRL 26.45 Increased By ▲ 1.31 (5.21%)
PTC 9.49 Increased By ▲ 0.04 (0.42%)
SEARL 53.34 Increased By ▲ 3.72 (7.5%)
SNGP 64.79 Increased By ▲ 1.94 (3.09%)
SSGC 10.94 Increased By ▲ 0.18 (1.67%)
TELE 7.15 Increased By ▲ 0.18 (2.58%)
TPLP 11.79 Increased By ▲ 0.26 (2.25%)
TRG 72.25 Increased By ▲ 4.65 (6.88%)
UNITY 20.63 Increased By ▲ 0.13 (0.63%)
WTL 1.29 Increased By ▲ 0.07 (5.74%)
BR100 6,286 Increased By 123 (2%)
BR30 21,586 Increased By 604.2 (2.88%)
KSE100 61,559 Increased By 1094.9 (1.81%)
KSE30 20,718 Increased By 420.9 (2.07%)

SINGAPORE: Refining cracks for fuel oil softened in Asia on Wednesday despite lower crude prices, with supplies continuing to flood East.

Singapore’s front-month crack for 0.5% very low sulphur fuel oil (VLSFO) dipped to a premium of $8.52 a barrel at the Asia close (0830 GMT) while the crack for 380-cst high sulphur fuel oil (HSFO) fell to a discount of $11.21 a barrel.

Fuel oil supplies to Asia hit three-month highs of 5.98 million tonnes in April, dominated by Russian flows that account for more than 85% of the total arrivals, based on Refinitiv Oil Research this week. However, out of this total volume, Middle Eastern exports dropped ahead of the region’s summer demand season.

Singapore’s cash premium for HSFO held steady at $7.25 a tonne on Wednesday, with high-sulphur supplies likely to tighten amid lower exports from the Middle East.

Meanwhile, VLSFO’s cash premium edged slightly higher at a premium of $3.73 a tonne, though steady offers of blendstocks are expected to cap the market’s recovery.

Poorer gasoil margins in recent weeks could prompt refiners in Asia to offer these components in the market instead of diverting them to middle distillate production, trade sources said.

Comments

Comments are closed.