Indonesia. File Image / Pixabay
Ongoing interest in Indonesia's Duri crude has prompted its price to spike as refiners and suppliers look for new feedstocks to produce IMO2020 grade marine fuel.
With a sulfur content of around 0.20%, well within the 0.50% limit of the new sulfur cap, Duri is one of only a few Indonesian grades that is highly suitable for use in the production of IMO2020 compliant marine fuel.
Data from Bloomberg indicates September shipments were $6.82/bbl above the country's flagship Minas grade.
Data from Platts in August, meanwhile, showed pricing for Duri flipping that month from a discount to Dated Brent to a premium of $7-$8/bbl.