Asian Fuel Oil Prices Slump on De-escalation Hopes
Asian fuel oil benchmark prices fell sharply as traders priced in potential Middle Eastern supply increases. The shift followed political changes in Washington that eased concerns about further conflict with Iran.
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Asian fuel oil benchmark prices fell sharply this week as traders priced in higher Middle Eastern supplies and easing tensions involving Iran. The shift follows political changes in the United States, where Democrats gained control of Congress. Lower residual fuel costs will reduce refuelling expenses for shippers and feedstock costs for refineries.
