FOB Singapore 10 ppm Gasoil Hits Record

Asia and Middle Eastern Gasoil Daily Market Analysis / FOB Singapore 10 ppm sulfur gasoil cash differential hits record high / Fire at Bahrain’s 405,000 b/d Bapco refinery contained

Jun 03, 2026

The Asian ultra-low sulfur gasoil market held rangebound on March 6 despite mounting supply concerns. Brokers pegged the front-month April-May Singapore gasoil swaps time spread — an indicator of near-term sentiment — at $14.50/b in midafternoon Asian trading March 6, down 49 cents/b from $14.99/b at the 0830 am GMT Asian close on March 5. Prior to this, the front-month backwardation had widened over four consecutive days. On physicals, however, the benchmark cash differential for FOB Singapore 10 ppm sulfur gasoil rose 66.25%, or $7.89/b, day over day to $19.80/b on March 5. This marks the highest level to date since the assessment’s launch in November 2008. Market participants similarly expect a rise for ultralow sulfur gasoil cargoes loaded from South Korea. “If any buyers are looking for prompt cargoes...

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