A slow down in interest from buyers in the Platts window pushed cash premiums of 380-cst fuel oil lower on Monday, while the front-month visco spread rose towards its highest since December after two weeks of steady gains.

WINDOW TRADES

Four 20,000 tonne cargoes of 380-cst fuel oil were traded in the Platts window on Monday along with a 40,000 tonne cargo of 180-cst fuel oil.

The reported 380-cst fuel oil deals traded at a premium range of 50 cents per tonne to 80 cents per tonne to Singapore quotes. This compared to Friday’s deals which were concluded at premiums of 30 cents a tonne to $1.25 a tonne to Singapore quotes.

380-cst fuel oil cash premiums FO380-SIN-DIF were 41 cents a tonne lower than the previous session at a premium of 81 cents a tonne to Singapore quotes.

A total of 3.1 million tonnes of 380-cst fuel oil have traded in the window since the start of April.

SWAPS MARKET

The ICE-traded May visco spread, the differential between the price of 180-cst and 380-cst fuel oil, edged higher on Monday to about $8 a tonne as continued buying interest from an unspecified international trading house continued to bid up the contract.

Reuters data showed the May visco spread at $7.75 a tonne, its highest Since early December.