Oil is at US$100

No, not fake news

New shipping fuel rules push specialised oil towards $100 a barrel

Regulations are dripping with good intentions but come at a cost

Recent FT headline

 

Changes to shipping fuel rules mean that a few select grades of crude have risen back towards US$100.

Pyrenees, an Australian crude produced by the BHP Group was selling for almost US$95 a barrel, with refiners happy to pay up because its a heavy thick oil that is also low in sulphur. Tackling climate change and pollution are the reasons given for changing fuel roles.

Consumers will ultimately pay because shipping cos will pass on the cost.

 

Advertisement