Storage and logistics have emerged as the most binding constraint in the current bulk petroleum supply chain. SNSUC Research Institute data shows that, as of Sep 2, 2026, average tank utilization across key East China bonded terminals—including Waigaoqiao and Yangshan in Shanghai, and Ningbo-Zhoushan—reached 92.3%, up 7.2 percentage points from the August average (85.1%) and approaching the 95% operational safety threshold. This metric strongly correlates with the 4.46% daily surge in fuel oil futures to ¥3,979/t: while Brent and WTI both edged down (-0.04%, -0.03%), fuel oil’s outperformance reflects storage scarcity—not feedstock cost inflation. According to Shanghai Shipping Exchange vessel schedule data, average waiting time for fuel oil vessels berthing in East China ports rose to 58 hours in early September (vs. 32 hours in August), directly inflating demurrage. On Sep 2, Shanghai port fuel oil vessel demurrage stood at $18,500/day—up 22.5% week-on-week from $15,100/day on Aug 26—and the highest in 11 months. Regional arbitrage economics are now severely compressed: for Singapore-to-Shanghai fuel oil re-export, the landed all-in cost totals ¥4,018/t—comprising MOPS Singapore FOB ($428.5/bbl → ¥3,721/t at USD/CNY 6.7224), $18,500/day × 3.2-day average demurrage, freight ($32/t), and customs/clearance fees (¥115/t)—exceeding the SHFE front-month contract (¥3,979/t) by ¥39/t, effectively closing the spot arbitrage window. In contrast, asphalt—up 2.45% to ¥5,024/t—faces lower storage pressure due to higher density, lower volumetric heat value, and faster turnover. its East China tank utilization stands at only 76.8%. SNSUC Research Institute recommends: fuel oil importers prioritize securing bonded tank space for late-September to early-October delivery and consider diverting partial cargoes to northern ports (e.g., Qingdao, Dalian), where tank availability remains at 18.2%; offshore traders may leverage blockchain-enabled cross-port warehouse receipt interoperability to establish a ‘virtual inventory pool’ between Zhoushan and Singapore, substituting digital title for physical tank occupation and reducing demurrage exposure. This analysis focuses exclusively on storage-logistics constraints and excludes crude, rubber, or other unrelated commodities.