HSFO markets seen softer yesterday in Asian markets at Singapore window. The cash premium of 380 cSt HSFO fuel oil slid while November crack slipped to discount. In contrast, VLSFO markets gained on tight inventories outlook. The backwardation curve of VLSFO remains strong. The cash premium for 0.5% VLSFO firmed for a fifth consecutive session on Tuesday while Nov crack premiums edged higher during the session. Crude markets remain under pressure on strong dollar and interest rate fears ahead of OPEC+ meet.
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