Resid/bunkers:High sulfur tumbles in Asia

摘要

Asian high sulfur fuel oil tumbled by around 28/mt Tuesday.But HSFO made sharp gains in terms of crack values,with the falls equating to around 4.30/b,compared with the 6.52/b drop in benchmark Dubai crude.In swaps,the October 180 CST crack spread against Dubai was up 1.73/b on the day at minus 4.88/b,while 380 CST was 1.64/b higher at minus 5.29/b,both near yearly highs.The shortage of October availabilities continues as the overriding factor,and while imports will pick up for November,arbitraged volumes may not be sustainable.