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China’s fuel oil demand is set for a long road to recovery after imports touched a record monthly low as refiners cut output and opted for cheaper crude in the wake of the US-Iran war, industry sources said, Reuters reports.
The lackluster appetite at one of Asia’s top importers of high-sulphur fuel oil (HSFO) is expected to cap prices, even though the market strengthened this week after Washington and Tehran stepped up attacks in the Middle East, disrupting Gulf supplies shipped through the Strait of Hormuz.
