FIS: Fuel Oil Daily Evening Report

Today, OPEC+ members agreed to cut October production quota by 100,000 b/d. The announcement helped crude values to recover some losses from previous sessions and gained 4% to reach today’s high of $96.99/bbl.

EU energy ministers are set to meet on Friday to discuss potential price cap on Russian gas supplies, in a bid to tackle excessive energy prices across the continent.

Rotterdam’s front-month HSFO barge crack was pegged at $26.30/bbl, down by $1.10/bbl from its previous settlement.