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Asian high sulfur gasoil prices rose and the spread to low sulfur gasoil narrowed to a two-month low of 49 cents a barrel. Indonesian spot demand is rising after technical problems at the 360,000 b/d Balikpapan refinery cut its gasoil output until at least end-October.
Stronger Indonesian import demand tightens Asian gasoil supply and supports regional diesel prices. The effect on feed commodities is indirect, mainly through fuel and freight costs in the region.
spglobal.comOct 9, 2024After 113 past bullish logistics events, ULSD / Diesel moved a median +0.6% over 5 sessions (54% higher; middle half -2.8% to +4.2%), and +0.2% over 20.
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.
