SINGAPORE INVENTORIES

- A surge in export volumes in the week to April 26 dragged Singapore onshore fuel oil inventories 9 percent lower, or 360,000 tonnes, to a three-month low of 3.48 million tonnes, official data showed.

- Net imports during the week fell to their lowest level since Dec. 14 at 385,000 tonnes as imports growth, at 3 percent, was dwarfed by the 171 percent spike in exports, amid soaring shipments to China.

- The decline in fuel oil inventories was the largest, in volume and percentage terms since the week ended Jan. 4.

SWAPS MARKET

- Broker sources said the 380-cst May/June time spread widened in trade on Thursday, rising from a premium of 50 cents a tonne to 65 cents a tonne during Asia intra-day trade.

- By comparison, the 380-cst May/June contract was trading at a premium of about 10 cents a tonne on Monday.