Fuel oil profit margins have surged to their highest in more than five years on lower supplies and rising demand from electric power generators, which may push some refiners to increase their runs.
Fuel oil, the residue left over after initial crude refining, has become scarce in Asia as refiners make their plants more complex, upgrading them to change the fuel oil into gasoline and diesel.
“Fuel oil, for years the junkyard dog of the barrel, is now at the forefront of everyone’s minds,” said Matt Stanley, a fuel broker at Freight Investor Services (FIS) in Dubai. Read More…
Credit By : The Economics Times
Latest posts by The Economic Times (see all)
- America’s oil boom on fire even as wildcatters save cash - February 21, 2019
- India’s coal power plants ‘unhealthiest’ in world: Study - February 21, 2019
- GIC, ADIA To Power Greenko Again With $550m Cheque - February 21, 2019