Chemicals Updates

Asia and Middle Eastern Gasoline Daily Market Analysis / Asian participants optimistic about US-Iran war resolution / Geelong expected to produce gasoline at 60% capacity after fire

May 21, 2026

The Asian gasoline market complex was heard to have been rangebound to softer on April 21, despite tensions in the Middle East remaining high before the slated expiry of the US-Iran ceasefire on April 22. Iran had also pledged retaliation for the US seizure of an Iran-flagged cargo ship in the Strait of Hormuz amid competing blockades by Tehran and Washington. A Northeast Asian source said that gasoline prices could remain softer as market participants expect a resolution to the US-Iran War to come soon. Brokers pegged the front-month FOB Singapore 92 RON gasoline swaps crack spread against Brent swaps in the range of $23.50-$23.55/b at 0300 GMT on April 21, down from the assessment of $23.68/b on April 20. Broking sources also placed the physical FOB Singapore 92 RON...

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