Americas News
EIA: Resid Demand Uptick in Late 2021
Wednesday February 16, 2022
The US market has seen a big jump in demand for residual fuel in the latter part of last year on a combination of market factors, according to the Energy Information Adminstration (EIA).
Demand was greatest in November last year than in any month since January 2017, figures from the EIA show.
The organisation cites the increase in shipping volumes as exerting upward pressure on bunker fuel prices with the widening price premium of low sulfur fuel oil over high sulfur fuel favouring high sulfur product.
Weaker refinery output from the impact of the pandemic has also contributed to the shift in fundamentals, the EIA said.
