Fuel Oil Night Session Rises 4.8%; Bitumen Up 3.9%

The breadth of the move—fuel oil, bitumen and low-sulfur fuel oil all advancing together—points to a sector-wide bid in energy futures rather than an isolated contract story, with iron ore's smaller gain suggesting the strength is concentrated in the oil complex. Bitumen's close correlation with fuel oil keeps it tied to the same crude-driven sentiment, so the read-across matters more than any single contract. Whether the complex holds these gains into the next session, or gives them back as it has in past night-session spikes, is the open question.