Monthly APAC Chart Pack
April 2026
Take a step back with our monthly chart pack, where analysts highlight the most important trends and visuals shaping the oil market.
Oil Narrative
Crude
Kero and Diesel
Light Ends
Fuel Oil
APAC Chart Pack: April
Introduction
The April 2026 APAC Chart Pack shows Iran war and Hormuz closure reshaping crude and product flows. Refined products are the critical chokepoint: jet fuel demand is collapsing, diesel faces severe shortfall with Asian refining paralyzed, and naphtha has tight petchem sector scrambling for supply. WTI is competitive on arb economics but can't replace the medium sour crude Asian refineries need, and recovery will take 3-6 months minimum even if Hormuz reopens unconditionally.
Refined products are the stress point. Jet fuel demand is already destroying, diesel is facing a massive shortfall, and gasoil underpins everything Asia needs to run. The question is whether paper markets will catch up to physical reality.
Recovery timeline
Petchem woes, mogas octane premium
Strength vs crude oil is not misplaced
Replacing medium sour demand is not simple
Demand destruction and the workhorse of the barrel
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