** Hong Kong remains well-supplied with low sulfur fuel oil inventories, market sources said, as data by Kpler showed that a replenishment cargo of 494,933 barrels, or 77,942 mt, was received by ExxonMobil Nov. ** Ample low sulfur fuel oil inventories coupled with weak bunker demand has led suppliers to offer Zhoushan-delivered marine fuel 0.5% competitively to boost sales volumes, traders said. ** Low sulfur fuel oil inventories at western and southern ports of South Korea could tighten further as utility sectors ramp up winter demand, tightening bunker supply and raising South Korea-delivered marine fuel 0.5% premiums. 19 have subdued bunker demand as shipowners hold back inquiries, market sources said. ** Expectations of severe weather conditions over Japan and South Korea following the week ended Nov. ** At the same time, high natural gas prices are raising fuel oil demand from power utilities in Europe, traders added. The Sines outage has reduced supply in the market by 200,000-250,000 mt/month with the refinery likely to remain closed until year end. ** An ongoing outage at the Portuguese Sines refinery has created a shortage of lower sulfur barrels in the West Mediterranean, market sources said. ** Market sources expect about 1.5 million-2 million mt of arbitraged cargoes to arrive in Singapore in December, down from 2.5 million-3 million mt expected to arrive in November. ** The December-January time spread and cash differential of the FOB Singapore marine fuel 0.5%S are expected to continue strengthening amid a lower inflow of arbitrage cargo in December, according to fuel oil traders in Singapore. 19 assessment of $10.45/mt, with the spread bid at $8.75/mt against an offer at $10.25/mt, according to Intercontinental Exchange data. ** Discussions for the Singapore Marine Fuel 0.5%S December-January spread Nov. The high sulfur fuel oil market remains amply supplied, according to a major bunker trader in Singapore, with declining delivered premiums reflecting the length in supply, amid stable demand. 22-26, according to traders based in the city-state, as few arbitrage inflows are expected in December. Receive daily email alerts, subscriber notes & personalize your experience.Īmid tightening supply for marine fuel 0.5% in Singapore, the cash differential and the front-month timespread are set to continue on an upward trend during Nov.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |