Asian fuel oil viscosity and poor widened market activity picks

From;    Author:
Asian fuel oil prices in December to three weeks on Tuesday, the viscosity difference between the highest, due to fixed price swap transactions warm. In addition to China positive light exchange to buy oil, the oil trader Gunvor has joined the rush to buy. Brightoil bought 115,000 tons of oil in recent months, swaps, Gunvor to buy 4 million tons, the total number of 165 thousand tons turnover . Traders said, 180CST mass-market buying, selling pressure coupled with 380CST market and promote spot trading of fuel oil spreads widened to levels near the top. PetroChina is the fuel oil swap contracts in December 380CST the biggest seller, sold a total of 55 thousand tons, 115,000 tons total transaction window. Gunvor followed, selling 3.5 million tons. The spot market, light Petroleum to Singapore spot price premium over the price of 0.25 U.S. dollars to buy 380CST cargo. Since the beginning of this month, the light sinks has been accumulated to buy 86,000 tons and 280,000 tons 380CST 180CST fuel oil cargo. By short-term market fundamentals support - December inflows of Western arbitrage cargoes only about 330 million tons, in January arbitrage cargoes while inflows remained at 230-240 million tons. December / January spread the plan period fell $ 0.13 to $ 1.50 per ton against the spread .1 January / February swap spread fell $ 0.38 to $ 0.75 per ton against the spread. January fuel oil crack spreads fell $ 0.35 to a barrel of Dubai crude oil than the $ 9.50 discount on fuel oil crack spreads fell .2 $ 0.24 to $ 9.52 premium over Dubai crude. 180-CST fuel oil prices fell $ 5.63 to $ 510.75 per ton; 380-CST fuel oil prices fell $ 6.25 to $ 500.38 per ton.

About us | Legal Notices | Sitemap | Links | Partner