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Trading houses flip record oil volumes in Singapore

Fuel oil for USD 750 million were traded in the first week of June in Singapore, where major trading houses such as Glencore, PetroChina and BP are fighting for the oil, according to Reuters.
Photo: Ed Wray/AP/POLFOTO/arkiv
Photo: Ed Wray/AP/POLFOTO/arkiv
BY KATRINE GRØNVALD RAUN

There is fierce competition for fuel oil in the world's largest bunkering port, Singapore. In the first week of June, physical fuel oil cargoes for a total USD 750 million were traded, a figure that corresponds to 60 percent of average monthly sales in Singapore, according to Reuters.

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