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SINGAPORE: Asia’s fuel oil market held steady to slightly softer on Thursday as cash premiums dipped amid thin trade, while an ample supply pool continues to cap market recovery.
The cash differential for 0.5% very low sulphur fuel oil dipped 23 cents to a premium of $16.02 per tonne over Singapore quotes. The differential has been range-bound between $14 to $17 in recent trading sessions as ample supply replenishment capped gains.