Fujairah HSFO premiums skyrocket as Russian supplies move in, causing congestion

The UAE’s Port of Fujairah is getting so crowded with Russian vessels carrying oil products that other shippers are getting crowded out, pushing up premiums for HSFO bunker fuels that have been in more demand than the low sulfur grade, port agents told S&P Global Commodity Insights. Port agents are giving priority to Russian vessels to unload their cargoes and…