FIS: Fuel Oil Daily Morning Report

Going by an American Petroleum Institute (API) estimate, US crude inventories fell by 2.18 million bbls in the week ending 3 February. Official Energy Information Administration (EIA) figures are due to come out at 15.30 GMT today.

VLSFO cracks have gained again this morning. Singapore’s VLSFO crack is up by $0.10/bbl on the day, trading last at $10/bbl. Rotterdam’s VLSFO crack is up by $0.45/bbl, trading at $2.70/bbl.