Crude prices bounce back to start the week

Open interest in the futures increased 12,908 contracts to 491,822 over the reporting week.

** A softening low sulfur bunker premium has fueled optimism that downstream demand may see an uptick in August, market sources said.

In the Colombian market, the week was somewhat slow, with a fourth source saying buyers were crouched, and adding that there was a lot of uncertainty regarding Taiwan.

The exports consist of a 35,000 cargo that will load over Aug. 5-9.

FOB Rotterdam 0.5%S marine fuel barges were assessed at $665.75 Aug. 5, down $75.25 on the week.

Crude oil futures fell to a five-month low and hit pre-Ukraine war levels earlier this week as traders were worried that weakening macroeconomic signals across the globe could lead to demand destruction.

There have been no fuel oil imports from Russia since the week to July 20, according to the data.