Sing market selloff potential early-warning sign for Atlantic Basin

Commentary summary:

• Sentiment is finally turning bearish. Sg92 cracks and spreads are leading the way, with an oversized correction in recent days that has been larger than perhaps the headlines would have normally justified

• Two major, and typically unreliable, RFCCs are slated to have either returned recently or returning earlier than expected.

• The Rapid refinery in Pengerang has reported returned to operations last week, pressuring the Sg92 complex, and now reports of Dangote’s RFCC potentially restarting two months earlier than expectations are driving further bearish sentiment.

• Focusing on the fundamentals, however, we have two main areas of focus –
weak LSFO markets and strengthening octane values.

Philip Jones-Lux is Senior Analyst for Sparta. Having worked with organisations such as JBC Energy and RP Global, Philip is a seasoned energy market analyst with expertise across the oil barrel and power markets

Sparta is a live, market intelligence and forecasting platform that enables oil traders, refiners, banks, hedge funds and wholesalers to have access to real-time and global actionable insights to capture market opportunities before others.

To find out how Sparta can allow you to make smarter trading decisions, faster, contact us for a demonstration at sales@spartacommodites.com