1 hr ago

Fuel Oil Shortage Threatens Shipping as Wars Disrupt Refinery Output

Fuel oil is used by ships and some power plants.

There may not be enough of it later this year.

Refineries are making more diesel, gasoline and jet fuel because those products earn more money.

This leaves less fuel oil available.

Fighting and attacks have also disrupted refineries and shipping routes.

Ships taking longer routes use more fuel.

In Singapore, a major place for refueling ships, fuel oil prices have risen sharply.

Higher fuel costs could make shipping and transported goods more expensive.

Key facts

Projected third-quarter deficit: 218,000 barrels per day, according to Energy Aspects.
Singapore fuel oil dependence: Singapore imports more than half of the nearly 1 million barrels per day it consumes.
Regional inventories: Stocks in Singapore, Amsterdam-Rotterdam-Antwerp and Fujairah are about 30% below their three-year seasonal averages.
Singapore fuel price: Very low sulphur fuel oil reached just under $825 per metric ton, or about $130 per barrel, on September 1.
Price increase: Very low sulphur fuel oil rose 76% from the start of the Iran war, compared with a 40% rise in Brent crude.
Russian exports: Fuel oil exports fell to 591,000 barrels per day in August, versus an average above 860,000 barrels per day in 2025.
Middle Eastern exports: Fuel oil exports fell 45% year on year to an average of 447,000 barrels per day from March through August.

firstpost.com · 1 hr ago