Sing mogas octane values skyrocket
- Oct Sing 95/92 spread is at $6.10/bbl and has been showing a steady rise since early July. The forward Sing 95/92 are likely to remain elevated above $6.00/bbl as mogas is expected to outperform naphtha.
- The Sing 95 RON blend costs minus the Sing 92 RON blend costs are also rising over the same period of time, which shows the paper position is fundamentally supported.
- This is because of the increasing Sing 92/MOPJ spread, which has hit a 10-year seasonal high of $33/bbl. Essentially you can blend more naphtha into Sing 92 than into Sing 95 RON grade.
- As an aside, China’s October gasoline exports are rumoured to be 200 kt lower than September, which further supports the Asian mogas complex.
(Sing 95/92 spread vs blend cost value of Sing 95 and Sing 92 grades)
(Sing 92/MOPJ C01)
(Sing 92/MOPJ 9.0 seasonals)
About the Author
June Goh | Senior Oil Analyst, Sparta Commodities
June is a senior oil market analyst at Sparta specialising in global crude trade flows and refining economics across Asia and Europe. Her analysis is regularly cited by Bloomberg, the Financial Times, and Reuters. With a significant following in the energy community on X (@JuneGoh_Sparta), June’s insights are a staple for institutional traders navigating regional market shifts.
Connect: LinkedIn / X
About Sparta
Sparta is the AI leader for commodity trading, home to Leonidas AI, the first decision-making engine for oil and commodity traders. Backed by USD 42 million in Series B funding led by One Peak, with participation from returning investors FirstMark and Singular, the same investors behind AI leaders like Legora, Dataiku, and Synthesia. From independents to multinationals, the world’s leading commodity teams use Sparta and Leonidas AI to move faster, trade smarter, and stay ahead of the market.
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