Asia Fuel Oil-HSFO backwardation widens on firmer bidding action

Backwardation spreads for Asia’s high sulphur fuel oil (HSFO) market widened on Friday as stronger bidding action emerged, trade sources said, while spot premiums also firmed. The balance-July/August intermonth spread for 380-cst HSFO rose by more than 30% from the previous session to $11 a metric ton at the Asia close (0830 GMT). The rally …

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