Q3 Fuel Market

Oil Prices Tumble Amid COVID Second Wave Concerns

  • Oil prices drop for fourth day as COVID-19 second wave worries intensify.
  • Brent crude futures fell 30 cents, or 0.7%, to $42.32 a barrel by 0149 GMT, after falling 31 cents.
  • U.S. West Texas Intermediate (WTI) crude futures slid 26 cents, or 0.6%, to $40.57 a barrel, after losing 5 cents.

Oil prices slipped for a fourth straight day on Tuesday on worries about a resurgence of coronavirus cases globally stifling a promising recovery in fuel demand, while growing output from Libya adds to...

https://mfame.guru/oil-prices-tumble-amid-covid-second-wave-concerns/

Depressed VLSFO Fueled by Blank Sailings Leading To Tough Q3 Market

According to a Reuters report, the global supply of fuel oil, used by ships and power plants, is expected to grow in the third quarter, depressing the marine fuel market as shipping demand remains weak, analysts and trade sources said.

What is it?

Third-quarter supply is estimated to rise by 620,000 barrels per day (bpd) from the second quarter as China and Brazil increase production, according to consultancy Energy Aspects.

This comes as inventories across key marine refueling hubs recently...

https://mfame.guru/depressed-vlsfo-fueled-by-blank-sailings-leading-to-tough-q3-market/

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