Major Asian oil exporters close 2025 diesel sales at lower levels vs 2024, sources say

Formosa Petrochemical

18/12/2024 08:02

SINGAPORE, Dec 18 (Reuters) - Major northeast Asian oil
exporters have mostly finalised their 2025 sales for 10ppm
sulphur diesel exports at lower levels from 2024, trade sources
said, underscoring a bearish market outlook for a second
straight year.
    The ultra low sulphur diesel (ULSD) cargoes from Taiwanese
refiners CPC Corp and Formosa Petrochemical Corp  6505.TW  were
sold at premiums of between 20 cents and 40 cents a barrel to
Singapore quotes to western traders such as Vitol  VITOLV.UL 
and TotalEnergies  TTEF.PA , while supply from South Korea's GS
Caltex and SK Energy were sold at discounts between 10 cents and
20 cents a barrel, multiple sources told Reuters.
    Japan's ENEOS sold 2025 cargoes at discounts of up to 30
cents per barrel, they added.
    This compares with premiums of between 50 cents and $1 per
barrel for this year's term supplies, marking a second straight
year of decline in term prices.
    These companies typically do not comment on commercial
deals. 

 (Reporting by Trixie Yap; Editing by Muralikumar Anantharaman)
 ((trixie.yap@thomsonreuters.com;))