FIS: Fuel Oil Daily Evening Report

China’s VLSFO exports for the first six months of the year reached 9.09 million mt, a drop of 7% compared to the same period last year.

Global bunker prices have been volatile lately, partly because of stringent Covid-19 restrictions sapping overall oil demand in China, and particularly as a result of knock-on effects from Russia’s invasion of Ukraine.

The front-month Singapore VLSFO barge crack traded between a high of $20.75/mt and a low of $17.00/mt today. Rotterdam’s equivalent crack traded in a lower range of $8.80-9.00/mt.