HSFO cracks at pre-IMO 2020 levels on sour crude shortage, US refiner demand

Global high-sulfur fuel oil cracks have rebounded to 2019 levels in June despite demand destruction from the retail bunker fuel sector, as a decline in sour crude production has encouraged US refiners to buy HSFO as a refinery feedstock. The 3.5% FOB Rotterdam barge crack spread has been assessed at an average discount of $6.17/b …

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