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The Singapore physical 10 ppm gasoil crack to Dubai fell to a record low of $2.70/b on September 3, below the previous low set in May. Traders cited a supply glut, weak regional demand, and high inventories capping any recovery.
A record-low gasoil crack reflects weak distillate demand and oversupply, which keeps diesel prices soft and pressures refinery margins across Asia.
spglobal.comClarice Chiam, Ng Jing Zhi, Mark TanSep 4, 2020Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
