Asian fuel oil gives back gains, while trading activity heats up for diesel and jet fuel

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智通财经2026/09/15 14:06

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The Asian high-sulfur fuel oil market on Tuesday gave back part of its previous gains, after an earlier rally had driven premiums to surge sharply.
The spot premium for 380-cst high-sulfur fuel oil over Singapore quotes declined compared to the previous day, but still stood at over $50 per ton.
The spot price spread for very low sulfur fuel oil rose to above $37 per ton, with buyers raising bids compared to the previous trading day.
Fuel oil crack spreads increased, with the very low sulfur fuel oil crack spread rising to a premium of about $22.8 per barrel at the Asian close, and the 380-cst high-sulfur fuel oil crack spread up to nearly $1.5 per barrel.
No high-sulfur fuel oil or very low sulfur fuel oil trades were reportedly concluded in the Singapore trading window.
The diesel market saw more active trading, with refineries increasing October cargo sales. As the intermonth spread continued to strengthen, market discussions on premiums also increased.
The East-West diesel price spread remained at a discount of over $130 per ton.
The diesel crack spread retreated for the second consecutive trading day, falling to about $81 per barrel, but still higher than the August average level.
The diesel spot price spread edged up slightly to about $5.8 per barrel, tracking the strengthening structure of the paper market, though spot window trading turned quiet.
In the jet fuel market, spot activity increased, with both buyers and sellers seeking to purchase or sell October cargoes.
The discount of jet fuel to diesel further widened to nearly $4 per barrel, and reportedly no jet fuel or diesel trades were concluded in the trading window.
Naphtha prices remained firm, close to the highs seen in July, following crude oil’s upward movement. The surge in premiums was driven by heightened geopolitical tensions in the Gulf region. Market participants estimate the price of second-half October cargoes at about $978 per ton, with the backwardation widening to around $28 per ton.

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Asian fuel oil gives back gains, while trading activity heats up for diesel and jet fuel

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