Singapore's Bunker Market Rallies
The Singapore fuel oil market has rallied this week as inventories have dropped at the same time that some supplies in the region do not meet the standards for use as shipping fuel, further reducing the amount of supply available, five…
Traders Shift Oil Products out of Storage
Short-term appetite for oil products has jumped; that is pushing traders to take oil products out of storage. Some energy traders in Southeast Asia are cutting their use of storage tanks as short-term demand for oil products soars, hitting…
Mercuria, PetroChina Selling Offshore Stored Fuel Oil
Three to four tankers storing fuel oil, down from eight or nine. Independent trading house Mercuria and Chinese state oil giant PetroChina are selling fuel oil stored in vessels off Singapore and southern Malaysia on strong demand from the shipping and power sector…
Iraq's Fuel Oil Exports Soar Despite OPEC Cut
Increased exports intended to help maintain oil revenues; March exports more than triple 2016 monthly average. Iraqi fuel oil exports have soared since January despite a reduction in the country's crude production in line with OPEC supply cuts…
Asia Fuel Oil-Traders on Sidelines Awaiting Price Drop
Asian fuel oil traders sat on the sidelines on Tuesday as a fall in crude prices made them wary of taking positions in case prices moved lower. Fuel oil prices have fallen by $11-12 per tonne since Friday's close, continuing a volatile…
Four-month Hangover from Singapore Fuel Party Ends
Singapore's long hangover from a near-record fuel oil trading binge in March is ending as tonnage traded that month and held offshore moves into landed tanks, signalling a tighter market in the world's biggest trading hub for the shipping fuel.
Fuel Oil Supply into Asia to Rise in January
Fuel oil supply from the West into Asia is expected to rise more than 27 percent to at least 4.5 million tonnes in January, up from December shipments estimated at 3.6 million tonne as traders in Europe and the Atlantic seek to clear inventories.
Singapore's Record Fuel Stocks Move to Floating Storage
Record high stocks of fuel oil in Singapore are pushing traders to store the shipping and feedstock fuel into tankers temporarily as demand slows regionally. At least seven very large crude carriers (VLCCs) have been provisionally fixed to store fuel oil on short-term time charters…
Iranian Officials Say Condensate and Fuel Oil on Ships
As traders speculate over what type of oil is being kept by Iran in floating storage, two Iranian oil officials said on Thursday that the oil was condensate and fuel oil. The millions of barrels on ships could be delivered quickly to…
Iran: Condensate, Fuel Oil Stored Afloat
Iran says it is storing condensate and fuel oil, not crude; some traders believe crude is being stored. As traders speculate over what type of oil is being kept by Iran in floating storage, two Iranian oil officials said on Thursday that the oil was condensate and fuel oil.
Asia's Fuel Oil Market Set for Record June Volume
Asia's fuel oil market is set to see a record volume of physical trades in June based on open interest in derivatives for the oil product, with backers of opposing bets expected to drive up activity in what is usually a high-demand period.
Tighter Supertanker Market Impacts Asian Fuel Supplies
The window to sell Western fuel oil to Asia is starting to close as demand for a limited fleet of supertankers to store cheap crude pushes freight rates to multi-month highs, shipping and trade sources said. Crude prices have fallen nearly 60 percent since June and…
OW Bunker Collapse Rattles Singapore Bunker Markets
Major oil companies, trade firms to expand market share; tight credit hits small retailers. The collapse of OW Bunker in the wake of an alleged fraud at its Singapore trading unit will shake up the city state's more than $25 billion marine fuel market…
Asia Fuel Oil Fundamentals soft; Bunker Demand Up
The Asian fuel oil market was steady on Friday with no cargoes traded, though demand seemed improved for the marine fuel oil segment, traders said. The 180-cst discount widened by 15 cents a tonne, while that of the 380-cst was unchanged, Reuters data showed.
