NewsSignals AI analysis·Reuters·
Markets extend declines, onshore inventories climb
Grade Bbearish AI signal
Asian fuel oil markets extended their declines on Thursday as Singapore's residual fuel inventories climbed 2.4% to a six-week high of 19.14 million barrels. The 380-cst HSFO crack fell to a $1.46-per-barrel discount, while Singapore fuel oil cargo assessments dropped sharply and firm Middle Eastern inflows added to supply pressure. Rising stockpiles and expectations of greater regional supply could continue weighing on fuel oil prices, although VLSFO showed some signs of stabilization.
Bullish strength: 20/100
- VLSFO crack rebounded to around a $15.50-per-barrel premium.
- VLSFO premiums edged higher for early December loadings.
Bearish strength: 80/100
- Singapore residual fuel inventories rose 2.4% to 19.14 million barrels, a six-week high.
- Middle Eastern inflows remained firm, with the UAE and Iraq among the top suppliers.
- The 380-cst HSFO crack fell to a $1.46-per-barrel discount.
- 380-cst HSFO cargo assessments dropped $64.79 per ton.
- 180-cst HSFO and 0.5% VLSFO cargo assessments fell $69.41 and $47.17 per ton, respectively.
- Narrower prompt backwardation and downside risk to spot HSFO premiums signal weaker market conditions.
This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.