The front-month 380-cst barge fuel oil crack slipped on Monday, widening its discount to Brent crude to the most in nearly a week, despite lower crude oil prices.
The front-month crack slipped to about minus $6.32 a barrel to Brent crude from minus $6.19 a barrel in the previous session and its widest discount since Dec. 8, according to Refinitiv Eikon data.
Oil slipped to around $60 a barrel on Monday after data showed weakening imports and exports in China, the world's second-largest oil consumer, raising the prospect of a slowdown in fuel demand.
Singapore 2018 bunker sales: Sales of marine fuels in Singapore, the world's biggest ship fuelling port by volume, totalled 49.8 million tonnes in 2018, down 2 percent from a record the year before, the Maritime and Port Authority of Singapore (MPA) said on Monday.
"Singapore retained its position as the world's top bunkering port in 2018, with annual bunker sales volume close to the 50 million-tonne mark for the second year consecutively," said the MPA in a statement. Singapore's 2018 marine fuel sales figures were the second highest on record, the data showed. In 2017, Singapore posted record sales of marine fuels, known as bunkers, for a third straight year at 50.6 million tonnes.
The lower marine refuelling activity in 2018 was largely attributed to the spread of tainted bunker fuels earlier in the year, three trade sources said.
Window trades: Two high-sulphur fuel oil (HSFO) cargo trades were reported in the Singapore trading window totalling 40,000 tonnes of 380-cst HSFO.
Mercuria sold both cargoes to Hin Leong at $372 per tonne.
No 0.5 percent low-sulphur fuel oil (LSFO) cargo trades, bids or offers were reported.