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Asia Fuel Oil-380-cst gains on refinery maintenance
Asia's benchmark 380-centistoke fuel oil discount reached $2.00 a tonne on Monday, its narrowest in slightly over three weeks, according to Reuters' data, as traders expect overall Asian supplies to be reduced due to ongoing refinery maintenance.
Traders said that bunker fuel supplies in North Asia, especially in Tokyo Bay, were tight - although this could be short-lived as refineries complete their maintenance.
Cash deals resumed in the Singapore market after a session's lull, with Unipec selling 20,000 tonnes of 180-cst grade cargo for May 20-24 loading to Mercuria at a discount of $3.50 a tonne to Singapore quotes on a free-on-board (FOB) basis.
BP sold to SK Energy 35,000 tonnes of 380-cst grade cargo for May 20-24 loading at a discount of $2.75 a tonne.
Source: Reuters (Reporting by Seng Li Peng, editing by William Hardy)
Traders said that bunker fuel supplies in North Asia, especially in Tokyo Bay, were tight - although this could be short-lived as refineries complete their maintenance.
Cash deals resumed in the Singapore market after a session's lull, with Unipec selling 20,000 tonnes of 180-cst grade cargo for May 20-24 loading to Mercuria at a discount of $3.50 a tonne to Singapore quotes on a free-on-board (FOB) basis.
BP sold to SK Energy 35,000 tonnes of 380-cst grade cargo for May 20-24 loading at a discount of $2.75 a tonne.
Source: Reuters (Reporting by Seng Li Peng, editing by William Hardy)
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