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Fuel oil prices seen remaining high

Prices for fuel oil, historically one of the least profitable parts of the crude barrel, are close to all-time highs.

Oil tanker Russia

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

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