FIS: Fuel Oil Daily Evening Report

Crude values are heading for third consecutive month decline, a first since 2020. Fears of tightening monetary policies by central banks across the world and economy slowdowns have outweigh concerns of supply disruption.

Singapore’s Sep/Oct spread traded at lows of $8/mt, down from previous settlement of $11/mt. Similarly, Rotterdam’s Sep/Oct spread traded at $11.50/mt, lower than previous settlement of $14/mt.  

Rotterdam’s HSFO barge crack was pegged at $28.50/bbl on the UK market close.