Fuel oil prices seen remaining high

Fuel oil prices climb amid supply drop and tax hike

This year, prices for fuel oil and fuel-oil cracks climbed to multi-year highs. The price for the February 2012 European 3.5% Fuel Oil (Platts) Barges FOB Rotterdam Calendar swap futures contract reached three-year highs of $688.64 on February 9, a year-on-year rise of 28%. A host of issues are depressing global supply while demand from Asia continues to persist. As a result, market participants are eyeing the fuel market keenly while analysts look for potential opportunities for hedgers and