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FUEL OIL REPORT

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Get Your Ship Together

Hormuz closure boosts HSFO and VLSFO strength, led by Eastern markets as positioning flips bullish and freight surges.
6 March 2026

Fuelled by the East

HSFO steady with stronger positioning; VLSFO led by East but momentum fading
19 February 2026
Cargo ship

I Fuel It Coming…

HSFO firm, bullish; 380 crowded long. VLSFO volatile but improving
5 February 2026
Cargo ship

Freight Carrying the Weight

3.5% neutral, HSFO crowded longs/caution, VLSFO curve bullish but momentum fading; E/W spreads strong.
22 January 2026

Super Sour

Venezuela dominates news
8 January 2026