Singapore’s middle distillates stocks hit highest in 2-1/2 yrs as exports dip
“With the South Korean arbitrage now “more favourable than those from the Middle East into Singapore, aided by their reduced FOB (free on board) premia, March Singapore diesel spreads have weakened considerably, and are not far from a contango structure,” Sparta analyst James Noel-Beswick said.
Reuters, March 15, 2024 – James Noel-Beswick from Sparta commented on the Singapore middle distillates market, noting that with the South Korean arbitrage now more favorable than those from the Middle East into Singapore, March Singapore diesel spreads have weakened considerably, approaching a contango structure.
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