Chemical Updates

Asia and Middle Eastern Gasoil Daily Market Analysis / South Korea’s GS Caltex sells 600,000 barrels of gasoil for H2 Sep loading / Vietnam’s BSR ships first B5 biodiesel from Dung Quat refinery

Aug 12, 2026

Backwardation in the Asian ultra-low sulfur gasoil market widened Aug. 11 after hopes for a near-term resolution between the US and Iran were dampened. Brokers pegged the front- month September- October Singapore gasoil swaps time spread — an indicator of the near- term market outlook — at $6.60/ barrel in midafternoon Asian trading Aug. 11, widening from $5.20/b at the 0830 GMT Aug. 7 Asian close. The benchmark cash differential for FOB Singapore 10 parts per million sulfur gasoil plunged $1.49/b day over day at $4.90/b Aug. 7. Supply-demand fundamentals remained largely unchanged, leading to weakening premiums of cargoes loaded out of North Asia, according to Asia-based middle distillate traders. South Korea’s GS Caltex had sold two 300,000 barrel-cargoes of 10 ppm sulfur gasoil loading over Sept. 15-17 and Sept....

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