Refining cracks for 380-cst high sulphur fuel oil (HSFO) remained at a three-month low due to persistent selling interest, limiting market activity. Spot offers from various sellers faced limited buying interest, keeping the cash differential for the grade in discounts. The crack spread for March dipped further to a discount of about $13.60 a barrel at Monday's Asia close, holding near November levels. Very low sulphur fuel oil (VLSFO) benchmarks saw little change in price, with cracks slipping to premiums of about $13.50 a barrel. Bunker premiums continued a downtrend. Marine fuel sales at Fujairah reached five-month highs in January, reflecting stronger global refuelling demand following Red Sea events. The monthly sales, excluding lubricants, marked the first annual increase in over a year.

SOURCE:HELLENIC SHIPPING NEWS