The Asia-Pacific gasoil market has surged, propelled upwards not so much by fundamentals, but by a spike in buying in the Singapore trading window. The Singapore spot price differential for benchmark 500 parts per million (ppm) sulfur gasoil has jumped to a premium of $1.00 per barrel to Singapore quotes on May 27, its highest level in nearly six months. While it has eased slightly to a premium of 93￠/bbl on May 28, it remains high.
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