FIS: Fuel Oil Daily Evening Report

A very quiet morning in the fuel oil markets turned into a very busy afternoon, catalysed by the crude coming off.

Singapore’s front- to second-month HSFO spread strengthened by $2.50/mt to trade at $1.50/mt at the UK close. Its second- to third-month HSFO spread climbed $2/mt higher, to print $2.50/mt.

Rotterdam’s HSFO barge crack strengthened amid weaker crude values and was pegged at -$27.00/bbl, up from a previous -$28.85/bbl settlement.

Rotterdam’s barge spreads remained highly illiquid, with only three trades in the market throughout the day for HSFO barges, and 10 for VLSFO barges.