FIS: Fuel Oil Daily Evening Report

High sulphur markets were bearish while low sulphur markets were bullish today.

Singapore and Rotterdam’s VLSFO crack were both up $1.10/bbl, to at $5.70/bbl and ­$0.80/bbl, respectively.

Rotterdam’s HSFO crack, on the other hand, traded $1/bbl lower from yesterday’s settlement, to ­-$26.25/bbl. Similar movements were seen in spreads, with Singapore and Rotterdam’s VLSFO spreads up convincingly through the front-months to the back ends.

The opposite can be said for the ports’ February-March HSFO spreads, which were down by $0.75/bbl.