Price Assessment Summary Table
| Product | Basis of Delivery | Price (May 22) | Weekly Change |
|---|---|---|---|
| Gasolines | |||
| Gasoline 10 ppm | CIF NWE ($/mt) | 1168.50 | -92.75 |
| Eurobob Barges | FOB Rotterdam ($/mt) | 1105.25 | -92.75 |
| Gasoline 92 unleaded | FOB Singapore ($/bbl) | 127.24 | -11.39 |
| Prem Unl 10 ppm | FOB Med ($/mt) | 1112.75 | -103.25 |
| Prem Unl 10 ppm | CIF NWE ($/mt) | 1168.50 | -92.75 |
| Diesel & Gasoil | |||
| ULSD | CIF NWE ($/mt) | 1150.75 | -105.75 |
| ULSD | CIF Med ($/mt) | 1155.50 | -116.25 |
| ULSD | FOB Med ($/mt) | 1127.25 | -116.75 |
| Gasoil 10 ppm | FOB Arab Gulf ($/bbl) | 147.76 | -11.02 |
| Gasoil | FOB Singapore ($/bbl) | 153.49 | -11.55 |
| Jet Fuel | |||
| Jet | CIF NWE ($/mt) | 1253.00 | -123.25 |
| Jet | FOB Med ($/mt) | 1200.25 | -124.00 |
| Naphtha | |||
| Naphtha | CIF NWE ($/mt) | 831.00 | -91.00 |
| Naphtha | FOB Med ($/mt) | 770.00 | -91.75 |
| Naphtha | FOB Singapore ($/bbl) | 96.23 | -15.58 |
| Naphtha | FOB Arab Gulf ($/mt) | 795.39 | -113.21 |
| Fuel Oil | |||
| HSFO 3.5% | CIF Med ($/mt) | 627.25 | -35.50 |
| HSFO 3.5% | FOB Med ($/mt) | 592.75 | -33.50 |
Regional Analytical Overview
Northwest Europe (NWE): The week was marked by a sharp 11.23% decline in gasoline inventories at the ARA hub, dropping to levels near 2026 lows. The primary driver was active transatlantic arbitrage: exports from NWE to the US (PADD 1) reached 5.8 million tons in May. The diesel market remained under pressure due to record import volumes from the US (1.457 million tons in May), which contributed to a 3.1% increase in ARA stocks. Jet fuel quotes declined following crude oil futures, despite a persisting supply deficit.
Mediterranean (Med): The gasoline market was supported by steady demand for cross-Mediterranean shipments and deliveries to North Africa. The Italian government announced plans to extend fuel excise tax cuts to support consumers. In the fuel oil segment, the HSFO supply situation improved toward the end of the week, while demand in the bunkering sector remained moderate.
Russia and CIS: The key factor was a wave of drone attacks on oil refineries (Syzran, Ryazan, NORSI), which resulted in damage to primary processing and hydrotreating units. This triggered a widening supply deficit in the spot market and drove prices higher in St. Petersburg exchange trading. In Kazakhstan, the Atyrau Refinery reported exceeding its planned processing targets for January–April by 47,000 tons.
West Africa (WAF): The market expects an easing of the supply situation thanks to rising output at the Dangote Refinery and the resumption of diesel supplies from India (Reliance), which reached a three-month high. Russia remains one of the largest diesel exporters to the region, having supplied approximately 1.6 million tons since the beginning of 2026.
Global Factors: Petroleum product prices were pressured by geopolitical uncertainty in the Middle East and fears of a critical drawdown in global inventories by summer. However, toward the end of the week, optimism was boosted by announcements regarding the “final stage” of negotiations between the US and Iran, which could lead to the reopening of the Strait of Hormuz and de-escalation of the conflict. The IEA continues to discuss the possibility of a coordinated release of strategic petroleum reserves.