FIS: Fuel Oil Daily Evening Report

Singapore’s Hi5 spread widened significantly today. The December contract was sitting around the $209/mt level upon the UK close yesterday, and was trading above $230/mt today.

This comes from stronger crude and a Singapore VLSFO crack that strengthened by $1.40/bbl.

Rotterdam’s HSFO barge crack slumped today, back to sub -$30/bbl levels. From a previous settlement of -$28.20/bbl, the December contract was trading at -$30.35/bbl as we approach the UK close.