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Risk Shifts Into VLSFO

Very Low Sulphur Fuel Oil (VLSFO) has maintained strength this week, with players risk-on across the front complex, in contrast to HSFO.....
Published: March 19, 2026
Written by:
Mita Chaturvedi

Mita Chaturvedi

Research Associate, Flux
Mita Chaturvedi
and
Donna Dong

Donna Dong

Research Analyst, Flux
Donna Dong
Reviewed by:
Vincent Wu

Vincent Wu

Research Associate, Flux
Vincent Wu
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The heightened price volatility across the High Sulphur Fuel Oil complex has triggered a wave of de-risking in the front. In Northwest Europe, the Apr’26 3.5% barges crack eased from a high of -$1/bbl on 12 Mar to -$5.20/bbl on 16 Mar, where it was briefly rangebound before gapping down to -$7.40/bbl at the time of writing on 19 Mar....

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