FIS: Fuel Oil Daily Evening Report

Singapore’s February-March VLSFO spread narrowed as the front-month contract expires today.

Rotterdam’s HSFO barge crack finished flat on the day at -$25.30/bbl, despite trading in a $1.10/bbl range throughout the day.

As we approach closer to the EU’s 5 February sanctions on refined Russian oil products, it is likely that more Russian HSFO could be diverted to Singapore to boost supply and weigh on its HSFO prices.