Middle East supply disruptions impact the Asian fuel oil market, with HSFO and VLSFO crack spreads strengthening across the board

汇通财经2026/03/03 11:41

Show original

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold. Trade now!

A welcome pack worth 6200 USDT for new users! Sign up now!

⑴ The Asian high-sulfur fuel oil market remained strong on Tuesday, with crack spreads trading in premium territory. Data shows that Singapore's April 380-cst high-sulfur fuel oil/Brent crude oil crack spread rose to about 50 cents premium, while the April high-sulfur fuel oil/Dubai crude oil crack spread closed above $3.25 per barrel premium. Spot premiums also continued to rise due to active buying and a strengthening forward curve. ⑵ Traders expect that Asian fuel oil supply will tighten due to loading disruptions in the Gulf region. Meanwhile, the ultra-low sulfur fuel oil market also continued its upward trend, with the April crack spread soaring above $12 per barrel premium. ⑶ In terms of refinery dynamics, Rongsheng Petrochemical, partly owned by Saudi Aramco, said on Tuesday that one of its 200,000 barrels/day atmospheric distillation units entered maintenance ahead of schedule due to tightened crude supply caused by Middle East conflicts. ⑷ Other market news shows that Brent crude oil has risen for the third consecutive day as US-Iran tensions escalate and shipping in the Strait of Hormuz is threatened. To cope with the escalation of regional conflicts, Indonesia's energy minister said the country will increase crude oil imports from the US to replace part of the Middle East supply. Meanwhile, supertanker freight rates in the Middle East have soared to historic highs.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

Understand the market, then trade.

Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.

Trade now！

Smart ring manufacturer Oura's IPO was oversubscribed by approximately four times, planning to issue 50 million shares at a maximum price of $44 per share, aiming to raise up to $2.2 billions, with a fully diluted valuation of about $15 billions. Against the backdrop of companies like Holtec Nuclear withdrawing their IPO plans due to market conditions, Oura is expected to become the first major IPO in nearly three months to raise over $1 billion, injecting new vitality into the long-dormant U.S. IPO market.

华尔街见闻•2026/09/26 02:06

The Bank of Japan's interest rate hike still fails to impress the market! Hedge funds slash yen long positions by nearly 80%, while dollar long positions increase significantly

After the Bank of Japan failed to deliver a clear enough signal of further interest rate hikes to the market, hedge funds have significantly reduced their bullish bets on the yen.

智通财经•2026/09/26 00:06

US Treasury yields continue to rise! Cleveland Federal Reserve President: Government and AI compete for funds, fueling rate hike expectations

Cleveland Federal Reserve President Loretta Mester stated on Friday that the recent sustained rise in long-term U.S. Treasury yields is the result of multiple factors working together.

智通财经•2026/09/26 00:01

Oura, the smart ring manufacturer, reportedly received about 4 times oversubscription for its US IPO.

格隆汇•2026/09/25 22:51