FIS: Fuel Oil Daily Evening Report 7 Nov 2023

The VLSFO market continues to be resilient amid falling crude prices. Singapore’s front-month VLSFO crack has traded up to an intraweek high of $12.65/bbl today, up $0.40/bbl from yesterday. Rotterdam’s equivalent crack printed last at $2.50/bbl - $0.25/bbl stronger on the day.

VLSFO spreads are also stronger. Singapore’s Dec-Jan VLSFO spread is up by $1/bbl on the day.

The East-West December HSFO spread was bought for most of the day, trading as high as $18.00/mt, which was $3/mt stronger than yesterday’s settlement.