Cash premiums for fuel oil in Asia remained relatively stable in Thursday's trade, with the cash premium for 0.5% very low sulfur fuel oil closing at $6.50 per metric ton, and the cash premium for 380-cst high sulfur fuel oil closing at $4.75 per metric ton. Cracks for both types showed slight premiums and discounts, respectively. Onshore fuel oil inventories in Singapore decreased as exports rose, mainly bound for Hong Kong, China, and Bangladesh, with Indonesia being the primary source for imports. Meanwhile, the uncertainty surrounding the new international navy coalition assembled by the United States in response to Red Sea attacks continues to impact shipping companies, leading to diversions and contract cancellations. In response, exporters are exploring alternative air, land, and ocean routes to maintain the supply chain. Despite these challenges, oil prices steadied, with concerns over global trade disruptions and the Red Sea situation being offset by higher inventories and record output in the United States.

SOURCE:GOOGLE