Monthly APAC Chart Pack
June 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: June
Introduction
The Iran war and Hormuz closure has pushed Asian refineries into a lighter diet that produces less diesel and fuel oil, but India and Korea have found heavier alternatives. China's May crude imports fell 29% year-on-year to 7.8 mbd, while Cushing stocks are approaching the 20 mb operational floor. WAF premiums remain distressed, with Hungo $6/bbl below April peaks. VLSFO tank bottoms in Fujairah pulls Dangote LSSR away from Singapore.
"With China not keen to participate in buying, the rest of the Asian refineries get to pick up cheaper, lower risk crudes and lessen the need to buy arb cargoes from the Atlantic Basin."
June GohSenior Oil Market Analyst
June Goh is a seasoned oil professional, with roles spanning Refining, Trading & Supply and Strategy over her 18 years at Shell. She has done refinery scheduling, crude and feedstock optimisation and market analysis for both short term and long term price forecasting.
