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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. The vast majority of retail client accounts lose money when trading in CFDs. You should consider whether you can afford to take the high risk of losing your money.

Onyx Markets Fuel Sing 380 Spread Fuel Asia – Commodity Time-Spread

Sing 380 Spread Fuel Asia – Commodity Time-Spread

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Name & Trade Code

Contract Name Sing 380 Spread(100mt-$/mt)
MT5 Code Sg380_Sprd
Contract Classification Commodity Time-Spread CFD
Geographical Region Asia

Contract Specification

Sector Energy
Product Group Fuel
Tenor Period Consecutive individual whole calendar months, e.g. Jun 25
Maximum Forward Tenor Up to 18 consecutive forward Tenor Periods available
Contract Size 100
Contract Unit mt
Trading Price Quote $/mt
Price Digits 2
Currency USD
Tick Value 1
Tick Size 0.01
Minimum Volume 1
Volume Steps [Lots] 0.01
Settlement Positions held into pricing month will be split into the constituent legs and then follow the settlement methodology for Outrights. i.e. Arithmetic mean of Settlement Prices throughout expiry month.
Margins Download a summary or detailed document with tiers.

Expiry Trading Overview

Contract Expiry Date The last trading day of the expiring Tenor Period (i.e. 30 June 2025 for Jun 25 Tenor Period)
Last Trading Day (for new open positions) Five working days prior to the Contract Expiry Date for the Tenor Period (i.e. 23 June 2025 for Jun 25 Tenor Period)
Last Trading Day (for closing position in that Tenor Period) The Contract Expiry Date of the relevant Tenor Period

Tenor Period Settlement Valuation Process

Open Volume The net open volume for the expiring Tenor Period
Daily Settlement Value Market-on-Close – The daily assessment settlement time, e.g. 4:30 pm for European contracts
Daily Settlement Volume Each day during Tenor Period, the remaining Open Volume reduces by the equivalent of 1/ (number of pricing days in the Tenor Period, including today if prior to Market-on-Close) and be settled at Daily Settlement Value
Final Settlement Price Positions held into pricing month will be split into the constituent legs and then follow the settlement methodology for Outrights. i.e. Arithmetic mean of Settlement Prices throughout expiry month.

The Sing 380 Sprd contract is a commodity CFD (Contract for Difference) in the Fuel Oil group that represents the time spread between two consecutive months of Fuel Oil 380 CST Singapore prices.

Contract Purpose

This time spread contract allows market participants to:

  • Speculate on or hedge against changes in the price relationship between two consecutive months of Fuel Oil 380 CST Singapore
  • Manage exposure to seasonal price fluctuations in the fuel oil market
  • Execute calendar spread trading strategies

Market Significance

  • Price Structure: Reflects the market’s expectation of near-term supply and demand dynamics for high-sulphur fuel oil in Singapore
  • Seasonal Patterns: Captures typical seasonal variations in fuel oil consumption, particularly in the shipping industry
  • Refinery Maintenance: Can indicate the impact of scheduled refinery turnarounds on fuel oil supply

Trading Benefits

  • Spread Risk Management: Allows traders to focus on relative price movements between months, reducing exposure to outright price volatility
  • Market Access: Provides a tool for trading the time structure of the Singapore fuel oil market
  • Flexibility: Enables various trading strategies, from simple calendar spreads to more complex multi-leg trades

This contract is particularly useful for refineries, shipping companies, trading houses, and financial institutions active in the Asian fuel oil market, offering them a precise instrument to manage time-related price risks and implement sophisticated trading strategies in the high-sulphur fuel oil sector.