Oil futures settled higher Jan. 20 as the market eyed tightened global supply outlooks and the potential for further stimulus spending from the incoming Biden administration.

This is the fourth such cargo KPC has purchased in the last month to meet power generation demand from its domestic utilities sector, while its Mina Abdullah refinery, which normally supplies fuel oil, is undergoing upgrading work.

Ceypetco procures fuel oil on behalf of West Coast Power Pvt. Ltd. and other local power companies for power generation.

Supply tightness pushed the Busan/Ulsan delivered Marine Fuel 0.5%S premium to the benchmark FOB Singapore 10 ppm gasoil cargo assessment to a one-year high at $51.39/mt Jan. 19, S&P Global Platts data showed.

**Price volatility has already impacted VLSFO blends **No uptick in hedging, but concerns about higher prices seen

**Shipping not included in national quotas **Biofuels good choice for existing vessels **Poseidon Principles may not achieve targets

"Last year we never worried about oil for the next month, but now we have to plan," a trader at a western company said.

Oil analysts estimated China's oil consumption growth to be at least at a rate half of the country's GDP growth.

**LR2 Med-Japan rates hit 4-month highs at start of 2021 **Naphtha prices keep arb open but more US product could be pulled

**Most Baltic ports to develop ice in next 10 days **Northern Handysize owners bullish on prospects

Fuel oil trader Avik Ghosh has joined Alsaa Petroleum and Shipping in Dubai as Trading Manager, starting Jan. 5, a source with direct knowledge of the matter told S&P Global Platts Jan. 20.

Current weak global crude demand levels made it feasible for Saudi Arabia to implement production cuts while still stocking the refinery.

By electro-chemically converting fuel into electricity, SOFCs can potentially produce power with higher efficiency.

Bapco is aiming to phase out all fuel oil production by 2025 and focus on diesel and jet fuel.

Shell Eastern Trading topped the 2020 list.

**Sanctions extend to those working with Mexican network **Ban on Citgo share seizures extended until July **Moves come on Trump's last full day in office

**Ossoff seen leading in tight race with Perdue **Easier path for Biden nominees if Dems regain chamber

**Court upholds 23rd licensing round focused on Barents Sea **Equinor planning further Barents Sea push despite setbacks **License round included drilling near Russia sea border

The cumulative amount of support under the package is S$33 million.

Japan is aiming for carbon neutrality by 2050.