OIL PRODUCTS: Zhoushan, Shanghai LSFO differential flips to Discount: Platts
Premiums for Zhoushan- and Shanghai-delivered 0.5% bunker fuel over FOB Singapore marine fuel flipped to a discount of $2.19/mt on March 18, hitting an eight-month low due to poor demand and weather disruptions, Platts said.
- March demand fell further due to a cold spell, but weather is expected to improve.
- LSFO ullage at Zhoushan contracted 2.6% month over month but increased 66.9% annually.
- Chinese refiners' LSFO production in February decreased 12.55% month over month and 8.22% year on year.
- Competitive pricing at Zhoushan diverted some demand from Singapore, impacting Singapore's LSFO demand and premiums, Platts added.
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GLOBAL POLITICAL RISK: Week Ahead 17-23 February
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MNI's Political Risk team has published its Week Ahead article looking at the major political risk events taking place over the next week. Includes information on the US & Russia holding initial talks on the Ukraine peace process, European leaders pushing for defence unity & higher spending at an emergency summit, and German voters going to the polls on 23 Feb.
