FIS: Fuel Oil Daily Morning Report

Rotterdam’s HSFO crack has been sold down by $0.75/bbl from Thursday’s settlement of -$27/bbl.

The West-East arbitrage remains shut as Singapore grapples with higher regional supply. The VLSFO market sentiment remains bearish amid high supply in the near term whilst demand fundamentals do not look supportive enough.

Fuel oil stockpiles in the UAE’s Fujairah port climbed 6.6% to the highest level in three weeks.