Asian HSFO markets firm on higher power, bunker demand
The backwardation in the Asian 180cst and 380cst high-sulphur fuel oil (HSFO) markets has widened to multi-month highs, driven by higher power generation and bunker fuel demand. The backwardation in 180cst HSFO markets, or the premium of prompt prices to forward values, widened from $5.75/t on 3 August to over a nine-month high of $6/t