The premium for 380-centistoke fuel oil in Asia rose compared with spot prices after Vitol Group and Royal Dutch Shell Plc bought cargoes in Singapore. Discounts for gasoil were unchanged. Fuel Oil OAO Lukoil sold 40,000 metric tons of 380-centistoke fuel oil to Shell at a premium of $4.25 a ton over benchmark prices, according to a Bloomberg News survey of traders monitoring the Platts window today. Chevron Corp. sold 20,000 tons of the same grade to Vitol at a premium of $4 a ton over benchmark quotes. Vitol also bought 20,000 tons of 180-centistoke fuel oil at a premium of $4 a ton over benchmark prices for the grade from PetroChina Co. Premiums were higher than the $3.50 a ton paid for 380- centistoke fuel oil cargoes on Aug. 2. Fuel oil’s discount to Dubai crude narrowed $2.01, or 28 percent, to $5.06 a barrel at 2:32 p.m. Singapore time, according to PVM Oil Associates Ltd., a broker. The spread narrowed for the first time in eight trading sessions, ending the longest period of declining margins since September 2009. Middle Distillates Shell sold 150,000 barrels of gasoil with 0.5 percent sulfur to Hin Leong Trading Pte at a discount of 25 cents a barrel below benchmark prices, the survey showed. That discount was unchanged from Sept. 2. Gasoil’s crack spread over Dubai crude, a measure of processing profit, fell 0.8 percent to $18.04 a barrel at 2:32 p.m. Singapore time, according to data from PVM. Light Distillates Shell sold 50,000 barrels of 92-RON gasoline to Vitol at $124 a barrel. The European refiner bought 50,000 barrels of 95- RON from BP Plc at $127.60 a barrel, the survey showed. Naphtha’s premium to London-traded Brent crude futures rose to $122.89 at 5 p.m. Singapore time from $117.36 at the end of trading in Asia on Sept. 2, based on data compiled by Bloomberg. To contact the reporter on this story: Ann Koh in Singapore at akoh15@bloomberg.net To contact the editor responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net

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