Fuel oil exports to the U.S. Gulf Coast fell to a five-year low in August due to decreased refinery demand.

In August, fuel oil exports to the U.S. Gulf Coast fell to a five-year low, reflecting decreased refinery demand and softer margins. Loadings of high sulfur fuel oil and heavy residues dropped by a third to 260,000 barrels per day. Cargoes from Mexico also declined by 25% month-over-month, reaching their lowest level since July 2021, contributing to the overall decrease in shipments to America's largest refining hub.

September 06, 2024
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