HSFO discounts shrink, contango narrows

June Goh

Senior Oil Market Analyst

16 July 2025 Time to read:  minutes

“380 East-West August contract is at 10-year low, with HSFO cracks likely remaining weak as refineries still are running at max in the prompt to make diesel,” Sparta Commodities’ analyst June Goh said in a note.

Reuters, July 16, 2025 – Asia’s high sulphur fuel oil (HSFO) market firmed as cash discounts narrowed and the 380-cst contango slimmed to just 11 cents. June Goh of Sparta Commodities noted HSFO cracks remain weak with refineries maximising diesel output, and the 380 East–West August contract at a 10-year low. Recent trades in Singapore lifted sentiment, with 380-cst cash differentials improving from the previous session’s wider discounts.

Read the full article here.

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