The prospect of increased Venezuelan heavy crude and fuel oil flows to the U.S. Gulf Coast has upended the high-sulfur fuel oil (HSFO) market as far as Asia. The premium of HSFO prices in Asia over the same fuel in the West has surged this week to the highest in eight months, since May 2025, as supply from Venezuela is set to increase in the U.S. and the Western hemisphere. At the same time, flows of sanctioned supply from Venezuela to China, its key buyer, are dwindling amid the U.S. blockade of shadow fleet vessels carrying…