The brief export halt was aimed at rebuilding domestic inventories, which were estimated at 20 million barrels below pre-war benchmarks for diesel and 9 million barrels short for gasoline. The withdrawal tightened already strained global markets amid the Iran war and attacks on Russian refineries, pushing Asian gasoline margins to a record above $50 per barrel over Brent. During the disruption, Brent crude prices climbed above $100 per barrel and light distillate stocks in Singapore dropped to a five year low.
Wednesday, October 21, 2026
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China Restarts October Fuel Exports with 3.7M Metric Ton Approval
Commodities12 days ago
Refined petroleum products will begin flowing from ports across East Asia again this week as Beijing ends a temporary freeze on export quotas. Trade and industry sources report that China has authorized approximately 3.7 million metric tons of fuel exports for the remainder of October to relieve the supply squeeze. This decision reverses a suspension implemented on October 1 that limited shipments exclusively to Hong Kong and Macau, leading PetroChina to cancel the majority of its planned gasoline and jet fuel cargoes.
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