Global Ship Fuel Shortage Looms
A looming ship fuel shortage threatens global supply chains as refiners prioritize diesel and gasoline production due to ongoing conflicts in the Middle East and Ukraine. Surging costs and shrinking reserves heavily impact major hubs like Singapore and Europe.
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Insights:
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A global fuel oil deficit of 218,000 barrels per day will hit the third quarter as refiners prioritize diesel. Prices in Singapore have surged 76% to $825 a metric ton.
