The Asian fuel oil market maintained stability with single-digit premiums on Wednesday, although the overall market structure weakened compared to the previous day. Notable changes include a dip in the cash premium for 0.5% VLSFO and a slight increase in 380-cst HSFO. Front-month refining cracks decreased as crude futures saw an uptick. China's recent customs data revealed a decline in fuel oil imports and bunkering exports for November, attributed to high inventory levels. Additionally, Fujairah inventories rose significantly, and various global events, including Red Sea incidents and geopolitical tensions, influenced oil futures. Meanwhile, Russian oil shipments to China increased, and Finnish company Neste plans a substantial investment in biofuels production.

SOURCE"GOOGLE