Refining margin for VLSFO drops over 10% in March
Asia’s refining margin for 0.5% very low sulphur fuel oil fell by more than 10% in March compared to the start of the month, data showed on Friday. The front-month crack (LFO05SGDUBCMc1) closed at $9.70 a barrel at the Asia close (0830 GMT) on the last trading day of March. Asia’s VLSFO market came under pressure in the month on tepid bunkering demand, while supply inflows remained steady. Singapore’s 0.5% VLSFO cash differential closed at $5.50 a tonne on Friday, steadying in single-digit premiums over Singapore quotes. Meanwhile, the market ...
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