Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

MarketScreener Homepage  >  News  >  Economy & Forex  >  All News

News : Economy & Forex
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance ProfessionalsCalendarSectors 
All NewsEconomyCurrencies / ForexCryptocurrenciesEconomic EventsPress releases

Crack holds firm, Singapore inventories steady

share with twitter share with LinkedIn share with facebook
share via e-mail
06/20/2019 | 06:18am EDT
A gas station attendant pumps fuel into a customer's car at a gas station in Shangha

SINGAPORE (Reuters) - The front-month 380-cst high-sulphur fuel oil (HSFO) barge crack held firm on Thursday despite sharp gains in benchmark crude prices.

The July 380-cst barge crack was at $8.16 a barrel below Brent crude, down 7 cents a barrel from the previous session, data in Refinitiv Eikon showed.

Brent crude futures jumped more than 3% to above $63 a barrel on Thursday after Iran shot down a U.S. military drone, raising fears of a military confrontation between Tehran and Washington. [O/R]

Meanwhile, Singapore fuel oil inventories slipped to a two-week low, in the week ended June 19, as net imports of the fuel plunged 68% from prior week, official data released on Thursday showed.


- Onshore fuel oil stocks slipped by 28,000 barrels (about 4,000 tonnes) from the previous week to 23.798 million barrels, or 3.552 million tonnes, data from Enterprise Singapore showed. [O/SING1]

- Net fuel oil imports, in the week ended June 19, were down 68% from the previous week to a two-week low of 454,000 tonnes, and were below the 2019 weekly average of 721,000 tonnes. Such weekly figures, however, are volatile.

- In the week ended June 12, net imports hit a more than 10-month high of 1.397 million tonnes as imports of the residual fuel soared.

- Still, this week's onshore fuel oil inventories were 24% higher than a year earlier.

- Singapore's net exports of fuel oil to China topped the week ended June 19 at 140,000 tonnes, followed by Hong Kong at 119,000 tonnes, South Korea at 78,000 tonnes and Bangladesh at 59,000 tonnes.

- The largest net imports into Singapore originated from Malaysia at 220,000 tonnes, followed by Russia at 149,000 tonnes, Turkey at 110,000 tonnes and Iraq at 91,000 tonnes.

- Singapore's imports of fuel oil from Turkey were at a near four-month high in the week ended June 19.


- The UAE's ADNOC has offered up to 25,000 tonnes of 380-cst medium-sulphur fuel oil (MSFO) with a maximum 2.25 percent sulphur content loading from Ruwais over July 11-12 in a tender closing on June 20.

- For more information, please see [FUEL/TENDA].


- Two high-sulphur fuel oil (HSFO) cargo trades were reported in the Singapore trading window totalling 20,000 tonnes of 380-cst HSFO and 20,000 tonnes of 180-cst HSFO.

- Shell sold the 180-cst cargo to Vitol at $4.50 per tonne above Singapore quotes.

- P66 bought the 380-cst cargo from Glencore at $373 per tonne.

- No 0.5 percent low-sulphur fuel oil (LSFO) cargo trades were reported.

- Please click on [O/AS] for more details.


- Iran has shot down a U.S. drone which the elite Revolutionary Guards said on Thursday was flying over southern Iran, raising fears that a major military confrontation could erupt between Tehran and Washington.

- Iran's Foreign Ministry condemned what it called a violation of Iranian airspace by a U.S. drone, state TV reported, warning of the consequences of such "provocative" measures.

- Yemen's Iran-aligned Houthis said on Wednesday that they struck a power station in Saudi Arabia's Al-Shuqaiq city, in Jizan province, with a cruise missile, the group's Al Masirah TV said.

- There was no immediate confirmation from Saudi authorities.

(Reporting by Roslan Khasawneh; Editing by Rashmi Aich)

Stocks mentioned in the article
ChangeLast1st jan.
GLENCORE 1.01% 275 Delayed Quote.-6.56%
ISRAEL CORPORATION LIMITED 0.77% 81280 Delayed Quote.-18.73%
LONDON BRENT OIL 0.00% 63.18 Delayed Quote.17.43%
OIL REFINERIES LTD 2.00% 183.3 Delayed Quote.0.79%
WTI 0.34% 56.32 Delayed Quote.24.56%
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news "Economy & Forex"
08:31aBMO Asset Management Inc. Announces Cash Distributions for Certain BMO Exchange Traded Funds
08:05aRussia's central bank seen cutting rate to 7.25% on Friday - Reuters poll
07:53aChina's ByteDance plans to set up data centre in India
07:49aStocks struggle, oil jumps on Middle East tensions
07:47aStocks struggle, oil jumps on Middle East tensions
07:31aTSX futures rise as oil prices gain
07:31aSouth Africa allocates extra $4.2 bln for cash-strapped Eskom
07:17aUK gives above-inflation pay rises to nearly 1 million public workers
07:16aNEWS HIGHLIGHTS : Top Company News of the Day
07:16aNEWS HIGHLIGHTS : Top Financial Services News of the Day
Latest news "Economy & Forex"