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East-West Fuel Oil Spread Hits 5-Month High: Platts

OIL PRODUCTS

The fuel oil 380 East-West spread rose to a five-month high due to a surge in cargo volumes in Asia and increased demand for higher sulphur fuel in Rotterdam, according to Platts.

  • 380 CST East-West swap climbed $8.75/mt, or 129.63%, on the month to $15.50/mt at the April 15 Asian close, Platts data showed.
  • The 380 East-West spread is the difference between the 380 CST FOB Singapore HSFO swap and the 380 CST FOB Rotterdam barge swap
  • The Asian market has been under pressure due to high stockpiles and despite robust downstream demand.
  • There has been upstream demand for 3.5% HSFO in Rotterdam amid increased bunkering activity and power generation demand in North Africa.
  • However, general sentiment for HSFO in NWE is weak as crack prices sink towards January lows.
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