Terminal Gate Prices
Prices at the pump will rise this week as the fuel excise is partially restored. This will see a 16c/l increase at the pump.
Finished products
Prices out of Singapore remain elevated when compared with the pre-war prices.
The crack spreads, and the above forward curves both suggest some market scepticism for a quick return to normal supply in respect of diesel.
Natural Gas
Gas prices have fallen, but remain elevated over the pre-war prices (except in the US which is largely insulated from world prices). The forward curve tells a similar story to diesel: markets expect it will take some time for supply to normalise.
Urea is similarly returning to more normal supply.
Crude
Global crude prices are returning to normal. The Dubai and Oman tail-end prices in the next chart I would trust less. They are most likely an artefact of thinly traded assessments, whereas Brent and WTI are deep markets.
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