News: BHP Asia Fuel Oil-VLSFO market gains, HSFO steady

NEW DELHI, May 17 (Reuters) - Asia's low-sulphur fuel oil (VLSFO) market extended gains on Friday after stocks at a key European trading hub declined.

Cash premiums for VLSFO were up 18 cents at $6.83 a metric ton. Premiums for high-sulphur fuel oil (HSFO) on the other hand held steady. Cash differential for 180-cst HSFO was pegged at a premium of $8.77 a ton, while premium for 380-cst traded at $7.38 per ton.

Fuel oil inventories at the Amsterdam-Rotterdam-Antwerp (ARA) refining and storage hub fell to 1.528 million tons in the week to Thursday, compared with 1.539 million tons in the prior week.

"East of Suez, we expect to see stockdraws in the coming weeks as bunkering demand in China, Singapore and the UAE picks up and as the peak cooling season approaches in the Middle East," analysts at energy consultancy FGE said in a note.

OTHER NEWS - South Korea's Hyundai Oilbank has made a slight reduction to crude runs at its Seosan refinery site after a minor fire, a company official said on Friday.

- Ukraine mounted an unusually large wave of overnight drone attacks on Russia that killed two people in Belgorod region and set fire to an oil refinery at Tuapse on the Black Sea, Russian officials said..

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	  RIC 
											   CLOSE	  
 Cargo - 0.5% VLSFO		  606.59	 -1.10	607.69   MFO05-SIN  
 Diff - 0.5% VLSFO			 6.83	  0.18	  6.65   
 Cargo - 180cst			  513.03	  3.96	509.07   FO180-SIN  
 Diff - 180cst				 8.77	 -0.08	  8.85   
 Cargo - 380cst			  499.47	  4.03	495.44   FO380-SIN  
 Diff - 380cst				 7.38	 -0.10	  7.48   
 Bunker (Ex-wharf)			 7.75	  0.00	  7.75			  
 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