Global executives and traders are bracing for higher volatility in fuel markets as they expect refiners to process more light crude oil in the lead-up to new rules aimed at slashing the use of dirty high-sulfur fuel oil in global shipping. Beginning in 2020, shipping vessels will not be allowed to burn fuel with a sulfur content higher than 0.5 percent, down from 3.5 percent currently. The International Maritime Organization (IMO) plan is among the most significant changes in decades for global shipping and refining. Large shipping vessels have traditionally run on high-sulfur fuel oil, produced after refiners have made higher-quality fuels like diesel or gasoline. High-sulfur fuel emits more pollution. “I think there will be a lot of volatility and […]