Asia Fuel Oil-HSFO cracks rebound from multi-month lows

SINGAPORE, Nov 11 (Reuters) - Cracks for high sulphur fuel oil (HSFO) rebounded in Asia on Wednesday after hitting multi-month lows in the previous session, latest data showed.

The December 380-cst HSFO/Brent crack climbed to a discount of $2.94 a barrel, LSEG data showed at the Asia close, versus a discount of $4.43 a barrel on Tuesday.

Meanwhile, HSFO premiums in the spot window held largely unchanged amid thin trading momentum this week.

As for very low sulphur fuel oil (VLSFO), product cracks also rebounded, rising above a premium of $18 a barrel on Wednesday.

A physical trade for VLSFO emerged on the window after several days of lull, though done at a largely rangebound premium of $28 a metric ton over cargo quotes.

Outside of the window, India's MRPL offered vacuum gasoil via tender in a rare move, according to market sources.

The refiner offered 40,000 tons of VGO for loading between November 24 and 25, via a tender that closes on Thursday, the sources said.

REFINERY UPDATES

- Fujairah heavy fuel inventories fell 23.9% to 4.43 million barrels (0.70 million metric tons) in the week to November 9, FOIZ data published by S&P Energy showed on Wednesday.

OTHER NEWS

- Oil prices rose on Wednesday from the previous session's two-month lows, as the market swung between hopes for a de-escalation in the US-Israeli war on Iran and concerns about attacks on shipping in the Strait of Hormuz. O/R

- New evidence has emerged in recent days of strikes on tankers in the Strait of Hormuz and on energy infrastructure in the Middle East despite market bets on a de-escalation in the Iran war, data showed.

- Brazil's state-run oil firm Petrobras has frustrated market expectations as it increased investment projections for the year while reporting lower-than-expected financial results in the third quarter.

- Poland's largest energy group Orlen said it terminated one of its two long-term liquefied natural gas supply contracts with QatarEnergy after a force majeure left the supplier unable to meet its delivery obligations.

WINDOW TRADES O/AS

- 180-cst HSFO: No trade

- 380-cst HSFO: No trade

- 0.5% VLSFO: One trade

ASSESSMENTS