Tight prompt supply drives US Gulf LSFO spike

摘要

US Gulf coast low-sulphur fuel oil (LSFO) prices returned this week to levels last seen before the outbreak of Covid-19 as recent refnery outages tightened prompt supplies. Houston LSFO barge prices rose as high as $49.78/bl on 31 August, the highest since 6 March, or approximately a $4-$5/bl premium to ICE Brent crude. Traders say the rally was a result of diminished prompt availabilities for LSFO, after Hurricane Laura forced refneries to shut last week.