FIS: Fuel Oil Daily Evening Report

The Rotterdam front-month HSFO barge crack traded in a fairly steady $0.65/bbl range today, before closing flat with its previous settlement, at -$28.35/bbl.

Rotterdam and Singapore’s front-month to second-month VLSFO spreads widened this morning to trade $1/mt above their previous settlements. But both contracts then came off with crude, closing below their previous settlements, at $9.75/mt and $16.25/mt, respectively.

Last week saw thin liquidity and a collapse in gasoil markets. The front-month Singapore 10ppm gasoil flat price crashed from $1,046.80/mt to $861.10/mt. There has been some recovery this week, with the contract now printing around $907/mt.