The 180-cst differential flipped into a premium on Friday, the first time in almost a month, on the back of strong outstanding bids during cash trading.

The 180-cst premium stood at $1.06 a tonne to Singapore spot quotes, as compared to a

discount of $1.16 a tonne the day before, Reuters data showed.

Trading house Glencore closed the session with a firmer bid for the less viscous 180-cst

grade at a premium of $1.50 a tonne to Singapore spot quotes.

Just earlier this month, the trading major had sold BP 180-cst cargoes at discounts ranging

$2-4 a tonne to Singapore spot quotes.

“It does look like Glencore is longing the viscosity spread,” said a Singapore-based trader.

The viscosity spread is the price difference between 180-cst and 380-cst swaps, and can be

widened if the 180-cst market strengthens more than the 380-cst fuel.

In other news, Taiwan’s CPC has restarted its 80,000-barrel-per-day (bpd) residue fluid catalytic cracker (RFCC) in end-July after it was shut in late June due to a leakage.

*TENDER NEWS

India’s Mangalore Refinery and Petrochemicals Ltd is offering 80,000 tonnes of 380-cst fuel oil for loading over Sep. 27-29, and 40,000 tonnes of vacuum gasoil for loading over Sep. 12-14. Both cargoes will load from New Mangalore and the tenders will close on Aug. 5, with validity until the next day.