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2025-07-30 17:54:18
[Asian Fuel Oil Market: Crack Spreads Plunge Deeply, Is a Supply Flood Imminent?] ⑴ On July 30th, Beijing time, crack spreads in the Asian fuel oil market continued to decline, primarily due to the recent rise in crude oil prices, while spot premiums and discounts for key fuel oil varieties remained stable amid light trading. ⑵ LSEG data showed that the Singapore 380-cst high-sulfur fuel oil (HSFO)-Dubai crack spread fell to a discount of approximately $7 per barrel, the lowest point since early November last year. ⑶ Meanwhile, the very low-sulfur fuel oil (VLSFO) crack spread also fell from the previous day to a premium of nearly $7.50 per barrel. ⑷ The market is closely monitoring fuel oil supply in Asia in August, as July cargoes have already increased significantly compared to June. ⑸ Vessel tracking data indicates that at least 3 million tons of fuel oil are expected to arrive in Asia in August, with more cargoes expected in the coming weeks. 6. India's HPCL has issued a tender for two HSFO cargoes, scheduled to load from Vizag between August 23 and 25. 7. In addition, Fujairah heavy fuel oil inventories fell 23.2% to 7.94 million barrels, or approximately 1.25 million tons, in the week ending July 28.
