News: BHP Asia Fuel Oil-VLSFO market gains as Singapore inventories slide

NEW DELHI, May 23 (Reuters) - Asia's low-sulphur fuel oil (VLSFO) market gained on Thursday after stocks at key trading hub Singapore plunged to the lowest in five-and-a-half years.

Cash premiums for VLSFO rose by 41 cents to $8.16 a metric ton. Cash differential for 180-cst HSFO was pegged at a premium of $7.36 a ton, while the premium for 380-cst traded at $7.48 per ton.

Inventories for fuel oil STKRS-SIN lost 17.46% weekly to log 15.778 million barrels (2.48 million metric tons), the lowest after the week ended Oct 31, 2018, Enterprise Singapore data showed.

Net imports rose 568,326 tons, or 186.1% week-on-week to stand at a two-week high of 873,675 tons. Total imports more than doubled to about 1,091,367 tons.

OTHER NEWS - India and Egypt were the top destinations for Russian seaborne fuel oil and vacuum gasoil (VGO) exports in April, traders said and LSEG data showed.

- The Belgian government plans to publish a royal decree that tightens the quality of motor fuel exports within days, with the new regulations expected to take effect after three months, the energy ministry said.

- Abu Dhabi National Oil Company (ADNOC) raised $935 million from an additional 5.5% sale of shares in its drilling unit to institutional investors, it said in a statement on Thursday.

WINDOW TRADES - 180-cst HSFO: No trade - 380-cst HSFO: No trade - 0.5% VLSFO: No trades

ASSESSMENTS FUEL OIL

 CASH ($/T)			  ASIA CLOSE  CHANGE	PREV	  RIC 
											   CLOSE	  
 Cargo - 0.5% VLSFO		  586.86	-14.76	601.62   MFO05-SIN  

 Diff - 0.5% VLSFO			 8.16	  0.41	  7.75   
 Cargo - 180cst			  529.96	  0.00	529.96   FO180-SIN  
 Diff - 180cst				 7.36	 -0.83	  8.19   
 Cargo - 380cst			  516.57	  0.00	516.57   FO380-SIN  
 Diff - 380cst				 7.48	 -0.53	  8.01   
 Bunker (Ex-wharf)			-9.00	-17.00	  8.00			  
 Premium - 380cst										 

 Bunker (Ex-wharf)			 8.00	  0.00	  8.00			  
 Premium - 0.5% VLSFO									 

For 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