SINGAPORE: Asia’s cash premiums for 0.5% very low-sulphur fuel oil (VLSFO) edged higher on Tuesday, while refining margins for the marine fuel grade climbed for a third straight session amid tight supplies.

Cash differentials for Asia’s 0.5% VLSFO inched up to a premium of $23.79 a tonne to Singapore quotes, compared with $23.70 per barrel a day earlier.

The front-month VLSFO crack rose to $24.98 per barrel against Dubai crude during Asian trade on Tuesday, the strongest in more than a week. The crack was at $24.81 per barrel on Monday.

The 380-cst HSFO barge crack for April traded at a discount of $12.56 a barrel to Brent on Tuesday, compared with minus $12.94 a barrel on Monday.

Cash premiums for 380-cst high sulphur fuel oil (HSFO) dipped to $9.48 per tonne to Singapore quotes, compared with $10.09 per tonne a day earlier. Anti-COVID lockdowns have dampened consumption of transportation fuels in China to a point where some independent refiners have resorted to trying to resell crude purchased for delivery over the next two months, traders and analysts said.