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Story summary
- Refiners projected to face fuel-oil deficit of 218,000 barrels per day in Q3 2026, shortage for shipowners and power generators.
- Strong diesel margins have caused refiners to pull barrels from the bunker-fuel market, raising ship-fuel prices.
- Middle East fuel oil exports fell 45% year-on-year to an average 447,000 barrels per day March-August, according to Kpler.
- Analysts say higher ship-fuel costs will be passed to end users, raising freight rates and making some trade uneconomical.
