Singapore MOC fuel oil swaps trades rise 66% MOM in Sep to four-year high
Singapore fuel oil derivative volumes traded during the Platts Market on Close assessment process in September rose 65.8% month over month to 27.12 million barrels, as high sulfur fuel oil deals almost doubled, according to Platts data. The total volume of fuel oil swaps trades, which fell to a two-month low in August, rebounded to ...
Singapore's fuel oil derivative trades surged by 66% in September, reaching a four-year high, according to Platts data. The total volume of fuel oil swaps traded increased to 27.12 million barrels, more than tripling year over year. High sulfur fuel oil (HSFO) deals nearly doubled, with 23.46 million barrels of HSFO swaps traded in September, up 98.7% from the previous month.
Asian HSFO fundamentals were boosted by tight supply and Middle East conflict concerns, coupled with stable bunker demand. Meanwhile, low sulfur fuel oil (LSFO) trades fell by about 20% month over month to 3.65 million barrels. Physical fuel oil cargo volumes traded in September rose by 3.7% month over month to 1.28 million metric tons.
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