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Fuel Oil Spot differentials steady but structure pares for all grades

Spot differentials for fuel oil were little changed from the previous day, though the market structure showed signs of paring for all key grades. Intermonth spreads at the prompt forward curve softened on Tuesday, with contango for very low sulphur fuel oil (VLSFO) widening further, while the backwardation for high sulphur fuel oil (HSFO) contracted, …