Chemical Updates

Asia and Middle Eastern Gasoil Daily Market Analysis / Taiwan’s Formosa sells 1.05 mil barrels of gasoil loading September / ARA diesel, gasoil stocks rise 7.44% WOW to 1.603 million mt

Aug 18, 2026

Backwardation in the Asian ultra-low sulfur gasoil market remained rangebound Aug. 17 as the US-Iran memorandum of understanding signed June 17 approaches its 60-day expiry, which was counterbalanced by ample regional supply. Brokers pegged the front-month September- October Singapore gasoil swaps time spread — an indicator of the near-term market outlook — at $6.37/ barrel in midafternoon Asian trading Aug. 17, narrowing from $6.45/b at the 0830 GMT Aug. 14 Asian close. The benchmark cash differential for FOB Singapore 10 parts per million sulfur gasoil was up 36 cents/b day over day at $5.83/b on Aug. 14. Taiwan’s Formosa was heard to have awarded its spot tender offering 750,000 barrels of 10 ppm sulfur gasoil loading over Sept. 18-22 from Mailiao at a premium of $2.70/b to the September average...

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