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OIL PRODUCTS: Asia’s Hi-5 Spread Down 20% on Week: Reuters

OIL PRODUCTS
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Asia’s hi-5 fuel oil spread narrowed by over 20% on the week reflecting a weaker market for VLSFO, while HSFO has gained ground, Reuters said.

  • The hi-5 VLSFO vs HSFO spread fell to $8.15/mt Nov. 29 at Asia close, holding at its narrowest for over five months.
  • Refining margins for VLSFO slipped below $11/b Nov. 29, a three-month low.
  • Bunker premiums dropped this month, with delivered basis premiums softening for both VLSFO and HSFO, sources told Reuters.
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Asia’s hi-5 fuel oil spread narrowed by over 20% on the week reflecting a weaker market for VLSFO, while HSFO has gained ground, Reuters said.

  • The hi-5 VLSFO vs HSFO spread fell to $8.15/mt Nov. 29 at Asia close, holding at its narrowest for over five months.
  • Refining margins for VLSFO slipped below $11/b Nov. 29, a three-month low.
  • Bunker premiums dropped this month, with delivered basis premiums softening for both VLSFO and HSFO, sources told Reuters.