SINGAPORE: China’s decision to suspend oil-product exports beyond Hong Kong and Macau during October is tightening fuel supply across Asia and putting upward pressure on regional refining margins.
Singapore, Malaysia and other importers exposed
China is the world’s largest refining hub, and reduced shipments affect buyers including Singapore and Malaysia as well as markets farther afield. Reuters reported that Asian gasoline refining margins climbed above $50 a barrel over Brent crude.
Singapore’s light-distillate stocks are at their lowest level in five years, adding to market concerns.
Fuel costs can spread through economies
Higher gasoline, diesel and jet-fuel prices can affect transportation, aviation and consumer inflation. Importers are seeking diversified supplies while monitoring Beijing’s export policy.
Follow Asian energy news at NewsNationOnline. Source: Reuters.
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