Low inventories and supply developments are affecting Asian residual fuel oil prices

U.S. Energy Information Administration ------- The difference between high-sulfur residual fuel oil prices in Singapore and crude oil prices in Dubai/Oman has been narrowing since the spring. Low inventories of residual fuel oil in Singapore and lower residual fuel oil production from Russia are likely contributing to the narrowing price spread. Residual fuel oil, the petroleum product remaining after higher-value liquids such as gasoline feedstocks and distillate are distilled from crude oil, typically sells at a lower price than crude oil. Residual fuel oil is used in many sectors, including marine transportation, power generation, commercial furnaces and boilers, and various industrial processes. To learn more click on the picture below to read the article.