FIS: Fuel Oil Daily Evening Report

A fresh wave of Covid-19 cases has re-emerged across China. Despite this, the Chinese government said it still plans to ramp up economic activity in the country.

Rotterdam’s HSFO barge crack increased by $1/bbl to print -$26/bbl as we approached the UK close.

Meanwhile, Rotterdam and Singapore’s VLSFO cracks declined by $0.40/bbl and $0.60/bbl from their respective settlements yesterday.

Singapore’s front-month to second-month VLSFO spread by $1.25/mt to $12/mt.