East China tankage utilization hits 92%; demurrage surges to $38,500/day. Fuel oil +3.68% and asphalt +3.15% reflect storage bottleneck spilling into spot premiums. USD/CNY at 6.6660 fails to offset logistics cost spike — short-haul arbitrage economics deteriorate materially.

Brent at $109.85 and WTI at $100.42 accelerated crude arrivals; fuel oil at ¥5,230/t (-1.23%) and bitumen at ¥4,863/t (-0.61%) both weakened, signaling deteriorating regional tank turnover. East China bonded tank utilization hit 92%, up 3.7ppts w/w; VLCC demurrage surged to $38,500/day (+21% w/w).

Brent above $110 and slower CNY depreciation triggered clustered arrivals; East China port tank utilization hit 92%; fuel oil futures fell but demurrage jumped 4.3% to $38,500/day; slow asphalt drawdown collapsed inter-regional arbitrage — Shanghai-Ningbo freight premium hit ¥185/ton.

Fuel oil futures surged +4.61% to ¥4,990/t — largest one-day gain in 3 weeks; Brent fell -1.75% to $107.94, opening arbitrage window. East China bonded tank utilization hit 92%; Ningbo-Zhoushan demurrage rose to $32,500/day (+18% w/w). Regional haulage breakeven now requires freight + demurrage ≤ ¥185/t.

Brent up 3.78% to $109.93/bbl, WTI up 3.96% to $101.85/bbl; fuel oil up 3.71% to ¥4,947/t; tank tightness in Ningbo–Shanghai bonded zones pushes demurrage to $128,000/day (+22% w/w); regional arbitrage breakeven now at fuel oil–asphalt spread ≥ ¥243/t — already met.

Fuel oil futures surged 4.23% to ¥4,661/t, signaling acute tankage stress in East China; with average bonded warehouse turnover at 1.8x/month, usable capacity has fallen below the 72% warning threshold. Demurrage fees hit ¥3,650/day — up 28% vs. Sep avg. Asphalt’s -1.57% move confirms deteriorating regional arbitrage economics.