NewsSignals AI analysis·Reuters·
Diesel market softens; regrade spread widens
Grade Bbearish AI signal$BRENT
Asia's diesel market softened as steady spot volumes weighed on refining margins, with the benchmark diesel crack closing lower at around $65 a barrel. Singapore gasoil prices fell by $2.29-$3.01 a barrel across grades, while Singapore oil product inventories declined to a three-week low and the jet fuel regrade spread widened to a $1.44-per-barrel premium. Continued supply availability could pressure diesel margins, although falling inventories and stronger jet fuel premiums may offer some support to middle distillate markets.
Bullish strength: 42/100
- Singapore oil product inventories fell to a three-week low, driven by declines in middle and light distillate stocks.
- Jet fuel regrade spread widened to a stronger premium of $1.44 per barrel.
- Jet fuel timespreads moved into slightly stronger backwardation.
Bearish strength: 58/100
- Asia's diesel refining margin closed lower at around $65 per barrel.
- Steady regional spot volumes capped diesel margin strength.
- Spot gasoil prices fell by $2.29-$3.01 per barrel across reported grades.
- South Korean diesel exports are expected to remain firm into next month.
This is automated NewsSignals analysis of third-party reporting, not independent original reporting or investment advice. AI scores are not price predictions.