FIS: Fuel Oil Daily Evening Report

An Iranian tanker has been reloading oil that was confiscated by the US earlier this year, after Greece approved the release of the cargo. The Americans had previously hired a tanker to impound the oil off the tanker, Lana, which had anchored in Greece in April this year.

Spreads and cracks rallied with the Brent crude values today. Rotterdam and Singapore’s front- to second-month VLSFO spreads traded as high as $17.75/mt and $19.00/mt, respectively. But as Brent fell in the afternoon, the spreads settled at a lower $15.75/mt for both products.

Rotterdam’s HSFO barge crack printed $18.00/bbl at 15.40 GMT.