SINGAPORE, May 14 (Reuters) - Asia's fuel oil benchmarks were little changed on Tuesday, while latest ship-tracking data showed this month's incoming supplies remained lower compared to the previous month.
Total supplies to East Asia are expected to hit about 5 million metric tons in May, compared with 5.5 to 6.0 tons in April, calculations based on LSEG's ship-tracking data showed on Tuesday.
Expectations of lower supplies and stronger seasonal demand has given the market support in recent sessions.
The low-sulphur (VLSFO) market held rangebound, with cash premiums pegged between $6 to $6.50 a metric ton on Tuesday, though cracks LFO05SGDUBCMc1 dipped below $11 a barrel.
Market sources eyed the outcome of Kuwait's VLSFO term tender which closes on Tuesday.
Meanwhile, high-sulphur (HSFO) benchmarks have been retaining support due to firm summer demand expectations.
Singapore's cash premium for 380-cst HSFO was pegged at a premium between $8 to $8.50 a ton, though the product's cracks FO380DUBCKMc1 eased to discounts below $7 a barrel on Tuesday.
OTHER NEWS - Oil prices were little changed on Tuesday as investors waited on upcoming data, including U.S. inflation indicators and a monthly report from the Organization of the Petroleum Exporting Countries this week.
- Malaysia Prime Minister Anwar Ibrahim said on Tuesday there was "not one shred of evidence" of ship-to-ship transfers of sanctioned Iranian oil off Malaysia.
- Indonesia's state refiner Pertamina is ramping up operations at its Balikpapan refinery after completing a revamp that started in February, a company official said on Tuesday.
- BHP Group is likely to sweeten its $43 billion takeover offer for Anglo American for a second time and possibly add cash, investors in both companies said on Tuesday, after the London-headquartered target rejected a higher bid.
WINDOW TRADES - 180-cst HSFO: No trade - 380-cst HSFO: No trade - 0.5% VLSFO: Two trades
ASSESSMENTS FUEL OIL
CASH ($/T) ASIA CLOSE CHANGE PREV CLOSE RIC Cargo - 0.5% VLSFO 604.42 -2.47 606.89 MFO05-SIN Diff - 0.5% VLSFO 6.15 0.22 5.93Cargo - 180cst 504.69 -1.35 506.04 FO180-SIN Diff - 180cst 8.93 1.96 6.97 Cargo - 380cst 492.01 -2.31 494.32 FO380-SIN Diff - 380cst 8.35 0.28 8.07 Bunker (Ex-wharf) Premium - 8.00 0.50 7.50 380cst Bunker (Ex-wharf) Premium - 8.00 0.00 8.00 0.5% VLSFOFor a list of derivatives prices, including margins, please double click the RICs below. Brent M1 BRENTSGMc1 180cst M1 FO180SGSWMc1 180cst M1/M2 FO180SGSDMc1 180cst M2 FO180SGSWMc2 Visco M1 FOVISSGDFMc1 Visco M2 FOVISSGDFMc2 380cst M1 FO380SGSWMc1 380cst M1/M2 FO380SGSDMc1 380cst M2 FO380SGSWMc2 Cracks 180-Dubai M1 FO180SGCKMc1 Cracks 180-Dubai M2 FO180SGCKMc2 East-West M1 FOSGEWMc1 East-West M2 FOSGEWMc2 Barges M1 HFOFARAAMc1 Barges M1/M2 HFOFARAASMc1 Barges M2 HFOFARAAMc2 Crack Barges-Brent M1 HFOFARAACMc1 Crack Barges-Brent M2 HFOFARAACMc2
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Open | High | Low | Value | Volume |
$40.70 | $40.98 | $40.65 | $195.6M | 4.789M |
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No. | Vol. | Price($) |
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No. | Vol. | Price($) |
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1 | 2500 | 40.850 |
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Price($) | Vol. | No. |
---|---|---|
40.910 | 1358 | 1 |
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