India’s May diesel exports to Southeast Asia seen at multi-year highs on higher margins
“The re-direction of Indian diesel barrels east has had a two-fold effect,” said Sparta Commodities analyst James Noel-Beswick.”First, it has flooded the Singapore market, leading to a swift rebound in local inventories and applying downward pressure on diesel spreads since late April,” he said.
Reuters, May 30, 2025 – James Noel-Beswick from Sparta commented on India’s diesel exports, highlighting how a shift of barrels to Southeast Asia has flooded the Singapore market, driving a rebound in inventories and putting downward pressure on diesel spreads in Asia. He noted that this redirection has tightened supply in Europe, causing ICE gasoil prices to rise.
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