FIS: Fuel Oil Daily Evening Report

Brent values plunged by nearly $6/bbl, from daily high of $105.45/bbl to $99.00/bbl at 17:00 BST (16:00 GMT).

Crude values have come under pressure amid fears about recessions and possible demand destruction. Meanwhile, Iraqi state-owned State Organization for Marketing of Oil (SOMO) stated that its oil exports are unaffected by the political unrest in the country.

Rotterdam’s front-month HSFO barge crack fell for two consecutive weeks, and printed at lows of $28.40/bbl.  

Singapore’s Sep/Oct VLSFO spread, printed at a weekly high of $15.25/mt, up from a previous week’s $10.75/mt.

Rotterdam’s Sep/Oct spread was pegged at $16.50/mt, from previous week’s $14/mt.