Asia Cross Barrel — Pricing Analyst Update (6–14 Aug)

• Higher crude prices lifted Singapore gasoline and middle-distillate flat prices this week, as the US-Israel war on Iran keeps regional supply risk elevated.

• 92 Ron gasoline: +$9.50/bl → $110.67/bl
• Jet fuel: +$14.61/bl → $151.59/bl
• 10ppm gasoil: +$15.04/bl → $158.59/bl

• Clean products stayed volatile, jolted by geopolitical headlines and their read-through for oil supply.
• Day-to-day shifts in reports on Chinese export volumes for 1H August and September added further noise.

• Tight global mogas stocks — with Asian inventories also drawing down — lifted 92 Ron cash differentials $0.34/bl w/w to $4.31/bl.
• Elevated MTBE prices narrowed the spread between oxy and non-oxy cargoes.

• Cash differentials softened as more Chinese cargoes entered the market, particularly for jet fuel.
• Some cargoes originally slated for late-August loading were pushed into early-September laycans, weighing on September premiums.
• Jet fuel cash differentials eased $0.15/bl to $2.00/bl; the regrade fell $0.43/bl to -$7.00/bl.
• Gasoil cash differentials slipped $0.92/bl to $5.47/bl.

About the Author
Carrie Ho | Senior Pricing Analyst, Sparta Commodities
Carrie Ho, Senior Pricing Analyst at Sparta, brings nearly 15 years of experience across global energy and metals markets, with a particular focus on oil and LNG benchmarks. Before joining Sparta, Carrie was Associate Journalism Director at OPIS by Dow Jones, where she led energy and commodities coverage and honed her understanding of how political and economic forces drive market structure and price dynamics. She now applies this expertise to Sparta’s pricing assessments, helping clients navigate increasingly complex physical and derivatives markets.
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