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Fuel Oil firmer in Asia

SINGAPORE: Fuel oil in Asia was firmer on Tuesday supported by fresh pockets of demand amid some perceptions of a tightening prompt market.

The backwardation between the front month and the second month for Singapore swaps stretched to $3.00 from $2.25, while the physical market in Singapore for a very prompt cargo traded a dollar higher compared with Friday.

Prices firmed despite a weaker crude market on Monday, which lingered on Tuesday.-Reuters