FIS: Fuel Oil Daily Evening Report

Singapore’s front- to second-month HSFO spread has come off heavily from a high of $8.00/mt on last Friday, to trading as low as $4.00/mt today. However, through the day, there was some recovery as crude values leaped higher, with the spread pegged at $6.00/mt on the UK close.

Heavy fuel oil continues to be the first choice of the majority of major cruise brands, striking those companies up poorly on environmental ratings.

Rotterdam’s front-month HSFO barge crack printed $24.05/bbl; a fairly significant fall of $0.85/bbl from yesterday’s settlement. This was most likely down to the jump in crude, which has widened the differential.