Fuel oil is Asia's next cost shock. Singapore's HSFO crack to Dubai topped $10/bbl in mid-October, up from a $5 discount in February, as Gulf and Russian supply losses push the fuel above the crude it comes from. #FuelOil#Shipping#Oil#OOTT
Global fuel oil supply is shrinking as Middle East exports run at least 800,000 tons a month below prewar levels and Ukrainian drone strikes on Russian refineries cut about 1M tons a month, Vitol says. #FuelOil#Shipping#Oil#Hormuz#Energy
A 540,000-barrel fuel oil cargo is heading from Malaysia to the US West Coast, the first such PRefChem shipment since 2023. Tight global feedstock supplies and record refining margins have opened an unusually long arbitrage route. #Oil#Refining#FuelOil
