Asian Fuel Oil Markets Hit by Sudden Bear Play

摘要

After tottering and wavering for much of the second half of November, Asia-Pacific fuel oil markets have dropped -- practically overnight -- after a quick and incisive bear play and jump in arbitrage volumes from the West flattened prices. Supply is likely to be swelled by the sharp 900,000-1.2 million tons jump in Decemberarrival Western arbitrage volumes. But a few market players believe the main factor that has pushed down spot prices has been the brief but effective bear play in the Singapore trading window, which sets fuel oil prices for Asia.