More than 1 million tons of Russian high-sulfur fuel oil (HSFO) is being stored on tankers offshore Singapore and Malaysia as Russia is flooding the Asian market with fuel oil ahead of the EU embargo on Russian crude and products. In the week to October 24, around 1.1 million tons of Russian HSFO were stored in tankers near major ports in Asia, according to data from energy analytics firm Vortexa cited by Bloomberg. The volumes of fuel oil sitting on tankers have doubled compared to the same period last year, according to the data - a sign…
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