Extremely low oil prices are having unforeseen consequences in bunker markets with marine fuel oil spreads behaving in unexpected ways, even though insiders expect the price turbulence to be short-lived.
In a webinar organised by maritime time consultancy Blue Insight, lead director Adrian Tolson pointed to very unusual negative price spreads for very low-sulphur fuel oil (VLSFO) in Houston.
“Negative spreads mean that the wholesale price is higher than the retail price, which doesn’t happen very often.
