Asia Fuel Oil-Cracks climb to 3 week high despite rising crude

SINGAPORE: Despite rising crude oil prices, Asia's November fuel oil crack to Dubai crude climbed to a near three-week high of $2.18 a barrel on Monday.

Potentially lower supplies of the fuel from key exporters including Russia, Iran and Venezuela in the coming months may have contributed to the strength in the fuel oil, one Singapore-based fuel oil trader said.

The latest official data showed Russian fuel oil exports sank to just above 3 million tonnes in August, their lowest since February last year, as refiners there process more of the fuel to produce higher-value fuels such as gasoline and gasoil.