Global Fuel Oil Shortage Deepens as Middle East and Russia Supplies Collapse
Global fuel oil supply is shrinking while demand for the fuel from the shipping industry remains robust, suggesting further supply pain down the road. Exports of high-sulfur fuel oil from the Middle East are running at a rate that is at least 800,000 tons a month lower than it was before the war, th
Source: OilPrice.com
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DW NOTE
The Hormuz closure has already cut global inventories by 1.9 million barrels per day in Q3, with another 0.7 million b/d drawdown projected for Q4. Brent at $105 isn't a spike — it's a 14.5% retreat from recent highs despite 800 ships stuck waiting for a strait that moved 85 vessels per day six months ago. The shortage is structural, not speculative.