Singapore mogas cracks lifted by diesel strength
- Sing 92 cracks hit $30/bbl for Sep and $23/bbl for Oct, which is a 10-year high.
- The strength is less so a mogas story but carried by the incredible strength in diesel cracks, which is printing $72/bbl for the Sep contract.
- The diesel-mogas spread is typically less than $20/bbl but has doubled in the recent month to more than $40/bbl.
- This disconnect cannot happen for too long as the Atlantic is also very short of mogas, and mogas yields need to fight with diesel to make the balances work.
- Thus if we see more supply coming out of China, the length is better expressed as a weaker E/W rather than a weaker crack.
(10 year seasonal Singapore October mogas cracks)
(Singapore September diesel and mogas cracks)
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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