Asian LSFO refining margin soars to near 5-month high, market structure strengthens

Asia’s low sulfur fuel oil refining margins surged to its highest level in nearly five months, while the market structure for the IMO 2020-compliant marine fuel grade also strengthened to its widest backwardation since early March, buoyed by tight prompt supplies on the back of a recent uptick in downstream bunkering activity. Platts assessed the Singapore front-month crack spread for…Asia’s low sulfur fuel oil refining margins surged to its highest level in nearly five months, while the market structure for the IMO 2020-compliant marine fuel grade also strengthened to its widest backwardation since early March, buoyed by tight prompt supplies on the back of a recent uptick in downstream bunkering activity. Platts assessed the Singapore front-month crack spread for…Read More