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OIL PRODUCTS: Asia’s VLSFO Prices Firming on Month: Reuters

OIL PRODUCTS

Asia’s VLSFO prices are set for a monthly increase Aug. 30, up around 8%, according to Reuters. 

  • Meanwhile, the VLSFO-Brent crack is up around 24% on the month.
  • Spot premiums firmed in H2 August, before steadying this week, while bunker premiums on a delivered basis soared to their highest in over half a year.
  • Sources told Reuters that they expected tighter VLSFO supply in September amid challenges obtaining and blending on-spec fuels.
  • Kuwait’s Al Zour sold its latest FOB VLSFO cargo for end-Sep loading at a discount of over $6.50 mt over Singapore. This compares to $8.50/mt for its previous cargo.

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