Singapore 180-cst fuel oil crack climbs to record high: Refinitiv data

SINGAPORE (Reuters) - The front-month Singapore 180-centistoke (cst) high-sulphur fuel oil refining margin climbed to a record high on Monday, boosted by falling crude oil prices and concerns over looming U.S. sanctions on Iranian oil exports next month.

Tightening global fuel oil supplies amid refinery upgrades and disruptions have also helped boost market sentiment over the past few months.

Front-month Singapore 180-cst fuel oil settled at a record premium of $1.61 a barrel above Dubai crude oil on Monday, 1 cent above the previous record on March 31, 2003, Refinitiv data showed.

Fuel oil is the residue oil left after initial crude processing at a refinery and its margin is typically at a discount to crude.

 

(Reporting by Roslan Khasawneh; Editing by Christian Schmollinger)