News

Synthetic rubber futures hit another all-time high, driven by resilient spot prices in Thailand and tightening raw material supplies. However, ample visible inventories and weakening terminal demand in some regions may force a reevaluation of the market’s trading logic.

The spot crack spread for Asian sulfur-containing 10ppm diesel closed above $76 per barrel on Friday, according to institutional data, setting a new historical record. The time spread between April and May diesel contracts has further deepened into a backwardation structure, and the cash premium remains strong.Following the outbreak of conflict in the Middle East, tighter crude oil supply has limited refinery operating rates in Northeast Asia, thereby suppressing the volume of available spot diesel. Tight supply has become the key factor driving up diesel profit margins.To curb potential inflation surges, India has lowered the consumption tax on gasoline and diesel, while imposing windfall taxes on exports of aviation fuel and diesel, in response to global oil market volatility triggered by the Iran situation. South Korea’s Ministry of Trade, Industry and Energy stated it will implement a ban on naphtha exports starting midnight Thursday to secure domestic supply amid supply disruptions caused by Middle Eastern conflicts. Japan’s Ministry of Economy, Trade and Industry has required domestic wholesalers to use Brent crude pricing instead of Dubai benchmarks when setting gasoline prices, in order to contain price increases.The jet fuel market remained robust on Friday, but the momentum for recovery was restrained by expectations of ample supply in April. The market continues to assess the divergent supply and demand patterns across various refined product categories.

BlockBeats News, March 27, according to Coinglass data, in the past 1 hour, a total of $109 million was liquidated across the entire network, with $106 million in long liquidations and $3.01 million in short liquidations.