Battered by ample supply and sluggish demand, Asia’s 0.5% very low-sulphur fuel oil (VLSFO) cash differential dropped to a more than nine-month low on Friday, extending losses this week, reports Reuters.
A drop in ratesThe VLSFO cash differential fell to minus $2.85 a tonne to Singapore quotes, down from minus $2.35 a tonne in the previous session and from plus 35 cents a tonne at the start of the month.
Meanwhile, residual fuel inventories at the Amsterdam-Rotterdam-Antwerp (ARA) and Singapore...