Chemicals Updates

Asia and Middle Eastern Gasoil Daily Market Analysis / Taiwan’s Formosa offers 600,000 barrels of gasoil for May 18-25 loading / Premiums of ULSD cargoes loaded from South

May 21, 2026

Korea soften on backwardation crunch The Asian ultra-low sulfur gasoil market weakened on April 21 amid increased supply emerging from North Asia. The benchmark cash differential for FOB Singapore 10 ppm gasoil was down $1.88/b day over day at $19.30/b April 20. More trades emerged within the spot market, with a South Korean refiner heard to have sold two 300,000-barrel cargoes of 10 ppm sulfur gasoil, with the first cargo loading over May 16-18 at a premium in the $5s/b to the Mean of Singapore gasoil assessments, FOB, and the second cargo loading over May 20-22 at a premium in the $5s/b to the Mean of Singapore gasoil assessments, FOB, according to Asia-based traders. “Price levels have come off considering the crunch in spreads,” a Singapore-based middle distillates trader said....

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