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Russia is rerouting lots of its fuel to Asia as other markets are closed off due to sanctions in response to it invasion of Ukraine.
More than 1 million tons of Russian high-sulfur fuel oil is now being stored in tankers near major ports in Asia.
Demand for Russian fuel in the Middle East has already dropped off, and while Asian imports climb, plenty of that fuel is not being offloaded.
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...
