APAC Chart Pack September 2026
Sparta’s Chart Packs are ready-made collections of charts that highlight key commodity market moves, giving traders a fast, visual snapshot of what matters without building charts themselves.
Monthly APAC Chart Pack: September 2026
Dark tanker transits out of the Strait of Hormuz, a pickup in China buying activity, and a distillate crunch are colliding in September’s oil markets. Sparta’s APAC team breaks down what’s moving crude, product cracks, and freight, and where the risk sits next.
Key takeaways:
- Freight is exploding: TD3c VLCC rates hit WS679, equal to $20/bbl basis Ras Tanura to China, as tanker availability tightens.
- Diesel cracks near $70/bbl: Increased exports from China should be expressed as a wider E/W rather than weaker diesel cracks.
- China’s buying inflection: Spot ESPO, Iraqi and Saudi tender buying has picked up since late August, a signal to watch against October export quotas.
- Brent-Dubai set to widen: Increased geopolitical risks plus reduced North Sea supply point to a wider spread.
- Refining margins strong: Cracking margins stay comfortably in the $10/bbl zone even as Asian refiners absorb steep dirty freight costs.
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