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07/11/2025 01:53 AST
Iraq's state-owned oil company SOMO has offered more than 6 million metric tons of high-sulphur fuel oil (HSFO) between January and June 2026 in three tenders of varying volumes, according to market sources and documents seen by Reuters.
The tenders are expected to add more volumes to the global fuel oil supply balance, while capping Asia price differentials which have already been hovering in discounts since early October.
In one of the tenders, SOMO offered about 855,000 metric tons of fuel oil produced at the Karbala refinery for loading from the Khor al-Zubair and Um Qasir terminals between January and June.
About 142,500 tons of the fuel will be lifted per month in the tender that will close on November 26, with bids remaining valid for up to 20 days, according to the tender notice.
In the other two tenders, SOMO offered straight-run HSFO for loading in the first half of 2026, to be lifted from the Khor al-Zubair terminal or Fujairah terminal, market sources said.
These included 1.54 million tons of higher-sodium HSFO produced from the Basrah refinery, as well as 3.76 million tons of lower-sodium HSFO produced from other refineries, they said.
Both tenders will close on November 16, with bids remaining valid for up to 20 days.
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| Ticker | Price | Volume |
|---|
| (In US Dollar) | Change | Change(%) | |
|---|---|---|---|
| Brent | 62.51 | -0.68 | -1.08 |
| WTI | 58 | -0.78 | -1.33 |
| OPEC Basket | 64.43 | -0.22 | -0.34 |
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11/11/2025
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Brent crude futures rose 11 cents, or 0
QNA
Financial Information Co.
Saudi Arabia