SINGAPORE, June 25 (Reuters) - Asia's fuel oil market rebounded slightly on Monday, as buying resumed after the market remaining largely quiet last week. The cash premium for the 180-centistoke (cst) grade climbed to a four-week high of $5.00 a tonne above Singapore spot quotes. However, the 380-cst premium fell to a 1.5 week low of $3.40 a tonne, as a deal was done at a low premium of $3.00 a tonne above Singapore spot quotes.O/AS The swaps market was more active as well, with close to 200,000 tonnes of the fixed-price contracts changing hands. The prompt July/August intermonth swaps rebounded from a four-session low to a two-sesison high of $5.38 a tonne. At least 100,000 tonnes of the contract was traded. In the bunker market, the price of ex-wharf marine fuel fell further, hitting a new 17-month low of $568.00 a tonne. However, few deals were done as buyers anticipate prices to drop further, in line with weakening crude prices. Demand for fuel oil could increase, as Japan's Meteorological Agency predicted average to hotter than usual weather from July to September, which could push up electricity demand in the peak summer season.ID:nT9E8HL02Y In the West, U.S. oil major Exxon Mobil will reconfigure its Fawley refinery in September. The process includes decommisioning a unit that produces fuel oil.ID:nL6E8HP012 **Cash trades: One 180-cst and one 380-cst deals. - Vitol sold 22,000 tonnes of 180-cst, for July 10-14 lifting, to Glencore at a premium of $5.00 a tonne to Singapore spot quotes. - Vitol also sold 20,000 tonnes of 380-cst, for July 10-14 lifting, to PetroChina at a premium of $3.00 a tonne to Singapore spot quotes. CASH ($/T) ASIA CLOSE Change % Change Prev RIC Close Cargo - 180cst 574.20 2.50 0.44 571.70FO180-SIN Diff - 180cst 5.00 0.85 20.48 4.15FO180-SIN-DIF Cargo - 380cst 562.85 2.05 0.37 560.80FO380-SIN Diff - 380cst 3.40 -0.55 -13.92 3.95FO380-SIN-DIF Bunker (Ex-wharf)- 568.00 -2.00 -0.35 570.00BK380-B-SIN 380cst Bunker (Ex-wharf) 5.15 -4.05 -44.02 9.20 Premium SWAPS ($/T) ASIA CLOSE Change % Change Prev RIC (0830 GMT) Close Brent M1 90.42 0.99 1.11 89.43BRENTSGMc1 180cst M1 569.63 2.13 0.38 567.50FO180SGSWMc1 180cst M1/M2 5.38 0.38 7.60 5.00FO180SGSDMc1 180cst M2 564.25 1.75 0.31 562.50FO180SGSWMc2 Visco M1 9.75 -1.00 -9.30 10.75FOVISSGDFMc1 Visco M2 9.75 -0.38 -3.75 10.13FOVISSGDFMc2 380cst M1 559.88 3.13 0.56 556.75FO380SGSWMc1 380cst M1/M2 5.38 1.00 22.83 4.38FO380SGSDMc1 380cst M2 554.50 2.12 0.38 552.38FO380SGSWMc2 Cracks 180-Dubai M1 -1.22 -0.60 96.77 -0.62FO180SGCKMc1 Cracks 180-Dubai M2 -1.99 -0.60 43.17 -1.39FO180SGCKMc2 East-West M1 36.50 -1.00 -2.67 37.50FOSGEWMc1 East-West M2 36.25 0.00 0.00 36.25FOSGEWMc2 Barges M1 533.13 3.13 0.59 530.00HFOFARAAMc1 Barges M1/M2 5.13 1.38 36.80 3.75HFOFARAASMc1 Barges M2 528.00 1.75 0.33 526.25HFOFARAAMc2 Crack Barges-Brent M1 -9.19 -0.72 8.50 -8.47HFOFARAACMc1 Crack Barges-Brent M2 -10.00 -0.65 6.95 -9.35HFOFARAACMc2 (Reporting by Lee Yen Nee; editing by William Hardy) ((lee.yennee@thomsonreuters.com)(+65-68703823)(Reuters Messaging: lee.yennee.reuters.com@reuters.net)) Keywords: MARKETS ASIA/FUELOIL
Asia Fuel Oil-Premium for 180-cst at 4-week high
June 25, 2012




















