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Asia fuel oil margins to be supported through mid-year on strong demand

Reuters  |  SINGAPORE 

By Roslan KhasawnehSINGAPORE (Reuters) - Asian refining margins for fuel oil are set to hold near their current strong levels through the summer as increased use of the fuel by utilities to power air conditioners for cooling and disruptions to trade flows shrink global supplies. "Robust power generation demand in the Middle East (notably Saudi Arabia) should result in lower fuel oil outflows from the region," said Iman Nasseri, managing director of energy consultancy FGE's Middle East office. While fuel oil markets typically strengthen during the northern hemisphere summer months, four trade ...

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First Published: Tue, June 12 2018. 15:05 IST