A severe storm in the Black Sea disrupts up to 2 million bpd of oil exports from Kazakhstan and Russia, impacting the 380-cst HSFO market. The cash differential for 380-cst HSFO in Singapore flips from a discount to a premium amid the weather conditions and expectations of China's recovery. Asian HSFO market rebounds, while low-sulfur fuel oil stabilizes after a recent decline. Singapore's residual fuel oil inventories hit two-week lows. Taiwan's Formosa plans refinery maintenance, and Elliott Investment Management takes a $1 billion stake in Phillips 66.

SOURCE: GOOGLE