SINGAPORE, Feb 16 (Reuters) - Spot differentials for high sulphur fuel oil (HSFO) maintained at steady to higher levels on Monday, with some more spot trading emerging before the Lunar New Year holidays.
Singapore's 380-cst HSFO cash differential edged up for a sixth consecutive session, buoyed by higher bids and stronger traded values, despite the market structure paring strength.
Meanwhile, very low sulphur fuel oil (VLSFO) market held broadly stable, with cash differential hovering in rangebound discounts this month.
Downstream marine fuel premiums for VLSFO have also tapered off after a temporary period of strength arising from tightness in barges.
Cracks were little changed on Monday as trading has quietened. The 380-cst HSFO FO380BRTCKMc1 closed at a discount of about $2.35 a barrel, while VLSFO LFO05SGBRTCMc1 held at a premium near $5.25 a barrel.
SINGAPORE BUNKER DATA
- Marine fuel sales at Singapore posted a strong start to 2026, holding above 5 million tons for a second consecutive month, port authority data showed.
OTHER NEWS
- Oil traded little changed on Monday, with investors weighing the market implications of upcoming U.S.-Iran talks aimed at de-escalating tensions against a backdrop of expected OPEC+ supply increases. O/R
- Venezuela's state-run oil company PDVSA has refused to sell oil to companies without individual U.S. licenses in the past two weeks, four sources from companies seeking to buy cargoes told Reuters, limiting exports and preventing the country from draining brimming storage tanks faster.
- Valero Energy is set to buy up to 6.5 million barrels of Venezuelan crude in March bound for its Gulf Coast refineries, making it the top foreign refiner of the OPEC country's oil since the United States captured President Nicolas Maduro in January, sources said.
- Spanish energy major Repsol has appointed Juan Romero as its global head of trading, a spokesperson told Reuters.
WINDOW TRADES O/AS
- 180-cst HSFO: One trade
- 380-cst HSFO: Four trades
- 0.5% VLSFO: No trade
ASSESSMENTS
FUEL OIL | ||||
CASH ($/T) | ASIA CLOSE | CHANGE | PREV CLOSE | RIC |
Cargo - 0.5% VLSFO | 462.68 | 6.30 | 456.39 | MFO05-SIN |
Diff - 0.5% VLSFO | -0.59 | 0.36 | -0.95 | MFO05-SIN-DIF |
Cargo - 180cst | 428.95 | -1.83 | 430.78 | FO180-SIN |
Diff - 180cst | 13.80 | 0.80 | 13.00 | FO180-SIN-DIF |
Cargo - 380cst | 427.94 | -2.72 | 430.67 | FO380-SIN |
Diff - 380cst | 16.56 | 0.51 | 16.05 | FO380-SIN-DIF |
Bunker (Ex-wharf) Premium - 380cst | 2.50 | 0.00 | 2.50 | |
Bunker (Ex-wharf) Premium - 0.5% VLSFO | 3.50 | 0.00 | 3.50 |
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 Sumana Nandy)
((jeslyn.lerh@thomsonreuters.com))