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Asia Fuel Oil-Spot 380-cst HSFO firms while cracks retain strength



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SINGAPORE, Oct 30 (Reuters) -Spot premium for 380-cst high sulphur fuel oil (HSFO) strengthened on Wednesday as bids trended higher, while refining cracks held on to their recent strength.

The market has received a boost despite recovering supplies to Asia this month, driven by firm sentiment in the western hub of Rotterdam which saw barge cracks rallying up.

Singapore's front-month 380-cst HSFO cracks FO380DUBCKMc1 held near discounts of $2 a barrel on Wednesday, maintaining at the highest since May 2022, based on LSEG data.

Cash premium for 380-cst HSFO was pegged higher at $14.25 a metric ton on Wednesday amid firmer-priced bids for November dates, while 180-cst HSFO traded up at $16 a ton.

In tenders, Kuwait Petroleum Corporation offered 60,000 tons of HSFO for loading in November, closing on Wednesday.


INVENTORY DATA

- Singapore onshore fuel oil stockpiles STKRS-SIN fell 23.8% to 15.35 million barrels (about 2.42 million metric tons) in the week to Oct. 29, Enterprise Singapore data showed. The data was released a day earlier and took into account one day less of inventory volume, due to a public holiday on Thursday.

- Fujairah heavy fuel inventories FUJHD04 climbed 3.0% to 8.82 million barrels (1.39 million tons) in the week to Oct. 28, FOIZ data published by S&P Global Commodity Insights showed.


OTHER NEWS

- Oil prices held steady near one-month lows on Wednesday, as markets weighed a potential ceasefire between Israel and Hezbollah and rising OPEC+ crude supplies against a possible drop in U.S. fuel stocks and demand concerns. O/R

- Swiss-based energy trader Litasco is hiring experienced traders and has lined up credit lines to revive its business in the Americas that withered after Russia invaded Ukraine in 2022, three sources close to the company said.

- Shell on Wednesday said it had completed a clean-up of the channel between Bukom Besar and Kechil Islands near the original source of an oil leak in Bukom, Singapore on Tuesday.

- Danish shipping group A.P. Moller-Maersk said on Wednesday it has signed a long-term deal for the supply of bio-methanol to its vessels from China's LONGi Green Energy Technology 601012.SS from 2026.


WINDOW TRADES O/AS

- 180-cst HSFO: One trade

- 380-cst HSFO: No trade

- 0.5% VLSFO: No trade


ASSESSMENTS

FUEL OIL





CASH ($/T)

ASIA CLOSE

CHANGE

PREV CLOSE

RIC

Cargo - 0.5% VLSFO

556.20

10.82

545.38

MFO05-SIN

Diff - 0.5% VLSFO

10.25

0.00

10.25

MFO05-SIN-DIF

Cargo - 180cst

460.67

-0.28

460.95

FO180-SIN

Diff - 180cst

16.00

-1.60

17.60

FO180-SIN-DIF

Cargo - 380cst

445.41

3.68

441.73

FO380-SIN

Diff - 380cst

14.25

1.75

12.50

FO380-SIN-DIF

Bunker (Ex-wharf) Premium - 380cst

16.00

0.75

15.25


Bunker (Ex-wharf) Premium - 0.5% VLSFO

15.50

0.50

15.00


For a list of derivatives prices, please refer to ENSWAP/INFO or the RICs below:

180cst M1

FO180SGSWMc1

180cst M1/M2

FO180SGSDMc1

380cst M1

FO380SGSWMc1

380cst M1/M2

FO380SGSDMc1

0.5% VLSFO M1

LFO05FSGMc1

0.5% VLSFO M1/M2

LFO05FSGSMc1

Cracks 180cst-Brent M1

FO180BRTCKMc1

Cracks 180cst-Dubai M1

FO180SGCKMc1

Cracks 380cst-Brent M1

FO380BRTCKMc1

Cracks 380cst-Dubai M1

FO380DUBCKMc1

Cracks 0.5% VLSFO-Brent M1

LFO05SGBRTCMc1

Cracks 0.5% VLSFO-Dubai M1

LFO05SGDUBCMc1

Visco 180cst/380cst M1

FOVISSGDFMc1

Hi-5 0.5% VLSFO/380cst M1

FO05-380SGMc1

GoFo 10PPM/0.5% VLSFO M1

GO10FO05FSGMc1

East-West M1

FOSGEWMc1

Barges M1

HFOFARAAMc1

Barges M1/M2

HFOFARAASMc1

Crack Barges-Brent M1

HFOFARAACMc1



Reporting by Jeslyn Lerh; Editing by Krishna Chandra Eluri

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