An influx of cargoes of residual fuel oil in the Black Sea and Mediterranean markets coupled with a tight tonnage list have led freight rates for Handysize tankers to a 10-month high, according to S&P Global Platts data.

Bunker supplier Bunker Partner has started supplying 0.5% sulfur fuel oil for bunkers at a clutch of Russian Far Eastern locations, the company said on its website.

Portugal's Galp will start supplying its own blend of 0.5% marine fuel from November 15 at all mainland Portuguese ports, the company said in a statement Tuesday. Supply of 0.5% bunker fu

Crude futures settled slightly lower Tuesday following a largely rangebound session, as market participants awaited developments from the US-China trade negotiations.

The deal positions KLIP as a bunkering hub for ships transiting the Straits of Malacca.

"IMO [demand] is here," one trader said.

The spread first breached the $100/mt mark on Sept 24, from which it rose to $115.27/mt on Sept 30, Platts data showed.