Asia Fuel Oil prices stay volatile amid reactions to the ceasefire talks between US/Israel and Iran
‘- Cash differentials for Asia 380cst HSFO averaged around $17/mt over Apr. 20–22, down from an average of around $20.50/mt week-on-week. Asia 180cst HSFO cash differentials averaged around $18/mt over the same period, down from $23.80/mt week-on-week.
– Asia 380cst HSFO outright prices averaged around $603.65/mt over Apr. 20–22, while Asia 180cst HSFO outright prices averaged around $611.15/mt over the same period, down from weekly averages of $648.75/mt and $658.60/mt respectively.
– Cash differentials for Asia LSFO averaged around $19.40/mt over Apr. 20–22, down from $23.25/mt week-on-week. Outright prices averaged around $661.40/mt over the same period, down approximately $44.35/mt week-on-week.
– Prices reacted to initial indications that the ceasefire between the US/Israel and Iran could break down, though the agreement has since been extended.
– Market participants continue to adopt a wait-and-see approach, with most viewing the ongoing peace negotiations as fragile. Prices are expected to remain volatile and reactive to headline developments.
– The 380cst and 500cst ex-wharf prices climbed to $624/mt and $621/mt respectively on Apr. 22, recovering from lows below $600/mt on Apr. 21, likely in response to news of the ceasefire extension.
Real time alerts, set to your specifications
Continue reading
Time for physical to shine
Lack of deal breakthrough should see global refining step out to buy up barrels.
11 MAY 26 - 13:01
The calm in physical won’t last forever
Plenty market chatter about the incredible weak state of crude diffs with North Sea almost below...
08 MAY 26 - 13:01