Cash differentials for Asia's fuel oil experienced minimal changes on Friday, with the spot market remaining stable due to a lack of fresh drivers, according to industry sources. Thin premiums were observed, with 0.5% very low sulfur fuel oil showing a slight decline at $6.40 per metric ton, while 380-cst high sulfur fuel oil stood at $3.88 over Singapore quotes. In the Amsterdam-Rotterdam-Antwerp (ARA) trading hub, fuel oil inventories decreased to 1.205 million tons in the latest week, down from 1.256 million tons in the prior week. Meanwhile, global oil prices rose, marking the first weekly gain in two months, supported by a positive International Energy Agency (IEA) forecast and a weaker dollar.

SOURCE:GOOGLE