China halts oil product exports beyond Hong Kong and Macau, affecting Asian supplies
China suspended oil product exports to regions beyond Hong Kong and Macau this month, according to Kpler data. Singapore imported 1.772 million metric tons of gasoline from China in the first nine months of the year, while its light‑distillate stocks have fallen to the lowest level in five years. Australia’s fuel inventories remain within normal ranges, with 42 days of petrol and 29 days of jet fuel on hand.1
To offset regional shortages, 45 ships carrying a total of 3.5 billion litres of fuel are scheduled to arrive in Australia over the next four weeks, and jet fuel prices have risen relative to diesel, widening the price spread to a premium of about $2 per barrel.1