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2025-09-15 18:55:05
Oil Price Volatility: Fuel Oil Market Amid Refinery Attacks and Demand Conflicts] ⑴ Asian VLSFO spot premiums hit a slight premium of around 50 cents/ton on Monday, ending a period of discount since early September. Singapore's October VLSFO crack spread also rebounded, reaching around $6.65/barrel, ending a period of decline that had previously reached its lowest point since January 2023. Meanwhile, the high-sulfur fuel oil (HSFO) market continued its weak performance, with 380cst spot discounts widening and crack spreads hovering around -$5/barrel. ⑵ Data showed that marine fuel oil sales in Singapore remained strong in August, reaching their highest level since December 2023. However, despite the increase in sales, premiums for delivered VLSFO and MFO remained range-bound on a month-on-month basis due to oversupplied markets. ⑶ Geopolitical tensions are impacting oil prices, with the Ukrainian drone attack on Russian refineries sparking concerns about supply disruptions. In addition, there are reports that G7 finance ministers discussed new sanctions against Russia, which brought uncertainty to the market.
