European Fuel Oil Market Strengthens Ahead of IMO 2020

For Q3 reports, the high sulfur fuel oil market was relatively strong overcoming slack buying demand from Asia.
Singapore focused on running down existing HSFO inventories in preparation for the IMO’s 0.5% sulfur cap starting in 2020 lead to a surge in European stocks.
LSFO demand ballooned towards the end of the second quarter pushing up the Northwest European fuel oil hilo between 1% FOB NWE cargoes and 3.5% FOB Rotterdam barges.
Scandinavian refiners allocate 1% spot cargoes to the 0.5%...