Fuel oil shipments to the US Gulf Coast reach a 5-year low as refinery demand declines

Fuel oil shipments to the US Gulf Coast reach a 5-year low as refinery demand declines

Exports of fuel oil destined for the US Gulf Coast plunged last month to their lowest level since January 2019, reflecting a weakening of refinery demand as margins have softened, analysts said. Feedstocks such as high sulphur fuel oil and other heavy residues can be further processed into more valuable products such as gasoline and diesel using secondary units.