Fujairah HSFO jumps as Hormuz draws the market's eye; the East–West VLSFO spread is worth real money on paper and less once you deviate

Brent at $109.95/bbl, WTI at $99.00 — a $10.95 differential — and EUAs at €85.41/t. With attention on Hormuz this week, Fujairah HSFO added $67.18 to $753/mt while Fujairah MGO fell $117.50 to $1,606.50 and VLSFO slipped $3.50 to $967. That puts Fujairah VLSFO at a $226.50/mt premium to Rotterdam ($967 vs $740.50), $199.50 over Houston ($767.50) and $209 over Gibraltar ($758). The Fujairah HSFO–MGO gap now stands at $853.50/mt ($1,606.50 − $753), against $745.50 at Rotterdam.