FIS: Fuel Oil Daily Evening Report

Rotterdam’s front-month to second-month HSFO spread collapsed today, falling from a ­$3.25/mt settlement to print ­$7.00/mt.

This was joined by a less drastic but still notable fall in Rotterdam’s HSFO barge crack, which was pegged at around ­$25.00/bbl on the UK market close, down from a $23.95/bbl settlement yesterday.

These weakening values reflect the current low demand in Rotterdam’s HSFO market.

VLSFO cracks for both Rotterdam and Singapore were much tighter than for HSFO, trading a range of $0.60/bbl and $0.15/bbl, respectively.

Cuba has been forced to increase its imports of fuel oil due to a terminal fire that has caused blackouts and long queues.