FIS: Fuel Oil Daily Evening Report

VLSFO cracks continued their current upward run today, with Singapore’s February crack trading at $13.20/bbl into the UK close, which was up $1.40 on the day.

Rotterdam’s VLSFO crack extended its gains to print $4.15/bbl, up from a settlement of $2.80/bbl yesterday.

All forward spreads were also pushing wider today, with Singapore’s February-March VLSFO spread up $3.00/mt on the day. Some of Singapore’s HSFO spreads on the back end of the curve crept out of contango.