Asia Fuel Oil-VLSFO margin posts weekly drop but cash premium climbs
Asia’s very low sulphur fuel oil (VLSFO) refining margin posted a weekly decline on Friday, though the product’s cash premium recovered in recent sessions. The 0.5% VLSFO crack fell to a premium of $8.75 a barrel at the Asia close on Friday, down about 3% from last week, according to LSEG data. A recent drop in gasoline refining cracks are likely to lead to the diversion of more blendstocks into the bunker pool instead of the refining feedstocks pool, industry sources said. This could cap recovery in VLSFO amid potentially ...
Read More »