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Over the same timeframe the January to March cross arb (January fuel oil in NW Europe versus March fuel oil in Singapore) has narrowed just $0.25 to $20.50 per ton. In this way, the arb economics have seen an improvement of $4.25 per ton over the past month. Bloomberg) — ARA stockpiles of fuel oil gained to a five-month high in the past week on a lack of large shipments to Asia due to weak arbitrage economics, according to Insights Global. * Fuel oil stockpiles highest since Jan. 24 ** No VLCCs shipments loaded for Asia from ARA in past week because the arbitrage is shut, Lars van Wagenignen, operations

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