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The Biggest Oil Risk Is at the Bottom of the Barrel
- alecco 7mo agohttps://archive.ph/Frr5T https://archive.ph/Frr5T - Fuel oil is now an ultra-expensive commodity due to the Iran war, which is bad news for the global economy. - The shipping industry is sounding the alarm as some key ports may run dry, forcing ships to halt, with fuel-oil supply very low in locations such as Singapore and Fujairah. - The traditional relationship between crude and fuel oil is broken, with fuel oil prices significantly higher than expected, trading at $140 a barrel in Singapore and nearly $160 in Fujairah.