ResearchMarket2026-10-21
Intraday reversal in the residue complex: fuel oil and bitumen both slip as refiners rebalance coking and bunker
The 23:04 snapshot shows fuel oil at 4,775 yuan (-0.44%) and bitumen at 4,485 yuan (-0.53%) both pulling back, unwinding the earlier intraday premium of fuel oil over bitumen. Refiners are shifting vacuum residue between delayed coking and bonded bunkering, reshuffling yields and crack spreads.