Topic
refined-products
Commodities India emerges as new ‘swing supplier’ of refined oil products as Middle East crisis reshapes
India is emerging as a global 'swing supplier' of refined oil products, with Singapore becoming its largest export destination at $4.3 billion. Refinery capacity expansion, discounted Russian crude and supply disruptions in Russia and the Middle East are driving the shift, according to Business-Today.
Commodities India's Surging Refined Product Exports Ease Asia Fuel Crisis, Says Russell
India's exports of light and middle distillates are expected to reach 1.55 million barrels per day in July, the second-highest level in Kpler records since 2017, easing Asia's fuel crisis. The surge is driven by soaring product premiums after the breakdown of the US-Iran ceasefire, with Brent crude rising 34% from its post-deal low. Other exporters like Oman and Taiwan are also boosting output, but Asia's imports remain 18% below pre-conflict levels, indicating continued tightness.
Commodities Benchmark Diesel Price Falls Below $5 Per Gallon for First Time Since March 9
The DOE/EIA weekly average retail diesel price fell to $4.832 per gallon, the first sub-$5 reading since March 9, marking a seventh consecutive decline totaling 80.8 cents/g. ULSD futures on the CME dropped to $3.0530/g, while Bank of America Merrill Lynch slashed its Brent crude forecast to $82/b, citing potential deficits until Q4 2026.