Asia and Middle East Fuel Oil Daily Market Analysis / LSFO market structure seen firmer, cash premium dips / 180 CST HSFO cash premium drops amid competitive offers / Singapore heavy distillates stocks climb to three-week high

Aug 31, 2026

Asia’s low sulfur fuel oil front-month swaps timespread saw its backwardation strengthen further Aug. 28, as traders said the market remains largely in short supply of finished-grade barrels, even as competitive offers in the physical cargo market have pushed the cash premium for the marine fuel to its lowest level in over five weeks. The Singapore marine fuel 0.5% September- October swaps time spread was pegged at $35.75/ metric ton in midafternoon Asian trading Aug. 28, up from of the spread at $34.70/metric ton at the Asian close Aug. 27. the Singapore marine fuel 0.5%S cargo’s cash differential over the Mean of Singapore marine fuel 0.5%S assessment at a premium of $31.31/mt at the Asian close Aug. 27, down from $31.47/mt Aug. 26, hitting the lowest since July 21, when...

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