War causes looming fuel shortage

The used fuel oil market for ships and power plants is expected to face a shortage crisis in the third quarter of the year, due to refinery disruptions caused by wars and attacks on oil sources, and a preference for producing diesel and other products at the expense of fuel oil. These conditions have led to rising prices for refined products, along with decreased inventories in key hubs such as Singapore and Rotterdam, increasing operating costs for ship owners and power generators, and potentially pushing up shipping rates. Projections indicate that the fuel oil supply deficit could reach 218,000 barrels per day, with ongoing disruptions in the Middle East further exacerbating tensions in the energy market and increasing global transportation costs.

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