Asia's very low sulphur fuel oil (VLSFO) cash premiums strengthened on Monday, driven by robust bids for January-loading cargoes, while high sulphur fuel oil (HSFO) experienced a slight weakening. The Singapore 0.5% VLSFO cash premium rose to $6.41 per metric ton, accompanied by a higher margin at premiums of $12.21 per barrel. In contrast, the cash premium for 380-cst eased to $3.86 per metric ton, and the refining crack slipped to discounts of $10.35 per barrel. Spot bids and offers remained active as market participants prepared for January trading. Bunker sales in Fujairah reached five-month lows in November, while attacks by the Houthis in the Red Sea continued to impact shipping sentiment in the Middle East. The report also highlights developments in oil prices, shipping routes, and Russia's oil export cuts.

SOURCE:GOOGLE