Russian crude accounted for 2% of overall crude imports into Fujairah in 2021 and 11% of the total in the first half of 2022, according to port data.

The main export destination was China at 25,358 mt, up 6% on the week, the data showed, followed by Indonesia at 14,607 mt, up 62% from the prior week.

Writing on Twitter, IEA executive director Fatih Birol also said the EU needed to cut gas demand ahead of the upcoming winter given low Russian deliveries.

Rising fuel bills have become a concern across sectors.

ExxonMobil confirmed a strike by the CGT union had begun on the evening of June 28.

Most South Korean refiners have been actively offering low sulfur fuel oil bunker for early July delivery dates at competitive rates since late June, according to market sources June 29.

The OPEC+ producer grouping is set to meet later June 30 in a bid to settle on the agreement made in June and confirm output levels for August.

As the limited stockpile of low sulfur fuel oil elevated ex-wharf premiums, buyers have reportedly downsized term contractual volumes done for July loading dates.