The European fuel oil Hi-5 spread has risen to triple digits for the first time since the end of March 2020, reports Platts.
The widened spreadReason behind the rise
The rise is said to be due to the low sulfur fuel oil supported by demand from the East and limited domestic production.
Highest spread
The spread between 0.5% sulfur FOB Rotterdam barges and 3.5%S FOB Rotterdam Barges — dubbed the Hi-5 — widened to $100.50/mt Feb. 4. According to S&P Global Platts data, it is the highest level since...
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