The cash premium for 0.5% very low sulphur fuel oil (VLSFO) in Asia declined to a two-month low, reaching $12.23 per metric ton, with cracks at $10.46 a barrel. In contrast, high sulphur fuel oil (HSFO) experienced a rebound as discounts narrowed to 25 cents a ton, and cracks rose to discounts of $10.41 a barrel, driven by prospects of increased uptake by China. The fuel oil market is also monitoring an upcoming OPEC+ meeting for potential impacts on sentiment and heavy crude supplies. Fujairah's fuel oil inventories fell 15.2% to 9.51 million barrels in the week to Nov. 27, according to Fujairah Oil Industry Zone data.

SOURCE:GOOGLE