Rotterdam: bearish outlook. File image/Pixabay.
Fewer tonnes of high sulfur fuel oil are leaving European refineries in the run up to the global bunker fuel specification change from the start of next year
Citing Euroilstock data, Argus Media reported a 10% fall in HSFO output in the January-July period this year compared to the same period last year.
But despite the downward trend, values for the key 380 centistokes grade of bunker fuel were slipping in Rotterdam this week.
380 cst fuel oil lost $17 per metric tonne from the start of the week coming in at $315pmt on September 11, according to Ship and Bunker bunker prices.