Tighter supplies boost values

摘要

1. A drop in long-haul imports kept supplies of naphtha and fuel oil blendstocks tight in Asia-Pacific. Refinery maintenance capped spot gasoil supply. 2. Singapore 180cst fuel oil rose to a $14/t premium to the 380cst grade, leaving the viscosity spread at its widest since June 2013 (see graph). Around 1mn b/d of long-haul fuel oil will arrive in March, higher than average. But a drop in shipments from the US has tightened lighter blendstock supplies.