New shipping rules leave oil traders strangely paralysed | Financial Times:
It does not take a huge shift in supply or demand to unsettle the 100m barrel-a-day global oil market, with most of the big price swings of the past two decades caused by one side of the equation moving out of alignment by 2 per cent or less.
So it’s little surprise that a looming shift in the global shipping fuel market, which makes up about 3 per cent of the total oil market, has caught the attention of traders.
The International Maritime Organization, a body of the UN, from next year will require all ships to stop burning high-sulphur fuels — generally the cheap, but highly polluting remnants of the refining process — and switch to something more akin to the diesel you might put in your car.
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