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Asia Fuel Oil-Oct/Nov plunges to over six-month low

SINGAPORE, Oct 5 (Reuters) - Asia's fuel oil weakened further on Friday, with inter-month spreads coming under pressure on increasing supplies coming into the region, while demand remained lacklustre.

The prompt balance October/November inter-month spread plunged to a backwardation of 50 cents a tonne by the Asian close, weakest in more than six months, Reuters data showed.

Cash differential for the 180-centistoke (cst) grade fuel oil flipped into negative territory for the first time in nearly six months, being valued at a discount of 50 cents to Singapore spot quotes, according to Reuters assessment.

Cash differential represents the amount buyers are willing to pay above or below benchmark prices.

Pakistan's total fuel oil imports for September fell 50 percent from the previous month to 537,920 tonnes, data released by the Oil Companies Advisory Committee showed.

Pakistan imported 411,054 tonnes of high sulphur fuel oil (HSFO) and 126,866 tonnes of low sulphur fuel oil (LSFO), the data showed.

Sri Lanka's Ceylon Petroleum Corp (Ceypetco) bought 35,000 tonnes of October-delivery LSFO at a lower premium, industry sources said, reflecting the current weak sentiment in the market.

The refiner bought the parcal from Bakri at a premium of $67.00-$68.00 a tonne to Singapore spot quotes. It previously paid a premium of $84.95 a tonne to Singapore spot quotes for 15,000 tonnes of August-delivery LSFO.

* TENDERS:

- India's Hindustan Petroleum Corp

is offering up to 30,000 tonnes of 380-cst, for Oct. 16-20 lifting from Vizag, via tender which closes on Oct. 8, with a same-day validity.

- Sri Lanka's Ceylon Petroleum Corp (Ceypetco) bought 35,000 tonnes of low sulphur fuel oil (LSFO), for Oct. 15 delivery to DES Colomdo, from Bakri at a premium of $67.00-$68.00 a tonne to Singapore spot quotes, on a cost-and-freight (CFR) basis.

- Saudi's ExxonMobil sold 80,000 tonnes of 650-cst, for Oct. 26-28 lifting from Yanbu, to Bakri at a discount of $28.00-$30.00 a tonne to Singapore spot quotes, on a free-on-board (FOB) basis.

* CASH DEALS: Four 380-cst trades.

- Brightoil sold 40,000 tonnes, for Oct. 22-26 loading, to BP at a premium of $1.00 a tonne above balance October average quotes, which is equivalent to around $1.30 a tonne above Singapore spot quotes.

- Gunvor sold 20,000 tonnes, for Oct. 20-24 loading, to Hin Leong at a premium of $1.00 a tonne above second-half October average quotes, which is equivalent to around 90 cents a tonne above Singapore quotes.

- PetroChina sold 20,000 tonnes, for Oct. 31-Nov. 4 loading, to Hin Leong at a premium of $1.00 a tonne above Singapore spot quotes.

- PetroChina sold 20,000 tonnes, for Oct. 27-31 loading, to Hin Leong at a premium of 50 cents above second-half October average quotes, which is equivalent to around 80 cents a tonne above Singapore quotes.

CASH ($/T) ASIA CLOSE Change % Change Prev RIC Close Cargo - 180cst 657.30 11.65 1.80 645.65 Diff - 180cst -0.50 -1.10 -183.33 0.60 Cargo - 380cst 647.60 12.20 1.92 635.40 Diff - 380cst 0.85 -1.15 -57.50 2.00 Bunker (Ex-wharf)- 652.00 12.00 1.88 640.00 380cst Bunker (Ex-wharf) 4.40 -0.20 -4.35 4.60 Premium SWAPS ($/T) ASIA CLOSE Change % Change Prev RIC (0830 GMT) Close Brent M1 112.16 3.32 3.05 108.84 180cst M1 658.00 12.37 1.92 645.63 180cst M1/M2 0.50 -1.25 -71.43 1.75 180cst M2 657.50 13.62 2.12 643.88 Visco M1 10.75 -0.75 -6.52 11.50 Visco M2 11.75 -0.38 -3.13 12.13 380cst M1 647.25 13.12 2.07 634.13 380cst M1/M2 1.50 -0.88 -36.97 2.38 380cst M2 645.75 14.00 2.22 631.75 Cracks 180-Dubai M1 -7.24 -0.86 13.48 -6.38 Cracks 180-Dubai M2 -6.78 -0.65 10.60 -6.13 East-West M1 37.00 -1.00 -2.63 38.00 East-West M2 37.00 -0.75 -1.99 37.75 Barges M1 621.00 13.37 2.20 607.63 Barges M1/M2 0.50 -1.00 -66.67 1.50 Barges M2 620.50 14.37 2.37 606.13 Crack Barges-Brent M1 -16.70 -1.11 7.12 -15.59 Crack Barges-Brent M2 -16.07 -0.83 5.45 -15.24

(Reporting by Lee Yen Nee; Editing by William Hardy)

((lee.yennee@thomsonreuters.com)(+65 6870 3823)(Reuters Messaging: lee.yennee.thomsonreuters.com@reuters.net))

Keywords: MARKETS ASIA/FUELOIL