FIS: Fuel Oil Daily Evening Report

Rotterdam’s front-month HSFO crack strengthened in today’s trading as crude dropped. It traded at -$35.80/bbl as we approached the UK close, which was $0.35/bbl above its previous settlement.

While this high sulphur crack pushed upwards today, low sulphur cracks continued to weaken. Rotterdam’s VLSFO crack touched a low of $0.45/bbl at the end of the UK session. Singapore’s VLSFO crack was down $0.55/bbl from its previous settlement, to $10.75/bbl.

Singapore’s front-month to second-month HSFO spread widened by $2/mt on the day and traded at $0/mt at one point.