Refined Products · Daily Indicative Assessment
Reforming Spread
- CommodityScope Indicative Assessment
- CS Series CS-FWD-SIN-REFORM
- daily cadence · Singapore paper · USD/bbl
- Oil Products & Physical Crude Methodology v1.0
The assessment represents the estimated prevailing market level for the defined basis and is not an executable quotation.
Latest Reforming Spread
- Basis
- Singapore paper
- Unit
- USD/bbl
- Frequency
- Daily
- CS Series
- CS-FWD-SIN-REFORM
Reforming Spread Price Chart
USD/bbl · Calendar gaps are not interpolated.
Price Changes and Historical Range
Computed statistics are CommodityScope calculations from the series history.
Monthly Reforming Spread Prices
Average, minimum and maximum of assessment midpoints in each calendar month. These are not the daily assessment range. Incomplete latest months are marked month to date.
| Month | Average mid | Min mid | Max mid | Observations |
|---|---|---|---|---|
| October 2026Month to date | 26.96 | 20.60 | 36.80 | 15 |
| September 2026 | 31.28 | 21.80 | 41.22 | 22 |
| August 2026 | 21.42 | 19.21 | 23.85 | 20 |
| July 2026 | 19.24 | 16.90 | 22.81 | 7 |
| June 2026 | 28.46 | 25.77 | 32.05 | 18 |
| May 2026 | 26.39 | 22.40 | 30.35 | 17 |
| April 2026 | 14.64 | 11.40 | 17.00 | 18 |
| March 2026 | 12.06 | -1.27 | 25.85 | 21 |
| February 2026 | 12.28 | 10.20 | 13.55 | 17 |
| January 2026 | 11.44 | 11.20 | 11.82 | 3 |
Recent Daily Assessments
Latest CommodityScope daily assessments for the defined market basis. Dates without an available assessment are omitted. The chart above is interactive; this table is the dated history.
| Date | Low | High | Mid | Δ vs previous |
|---|---|---|---|---|
| 2026-10-21 | 21.37 | 21.37 | 21.37 | -0.63 |
| 2026-10-20 | 22.00 | 22.00 | 22.00 | +1.40 |
| 2026-10-19 | 20.60 | 20.60 | 20.60 | 0.00 |
| 2026-10-16 | 20.60 | 20.60 | 20.60 | -3.27 |
| 2026-10-15 | 23.87 | 23.87 | 23.87 | -0.68 |
| 2026-10-14 | 24.55 | 24.55 | 24.55 | +0.03 |
| 2026-10-13 | 24.52 | 24.52 | 24.52 | +0.46 |
| 2026-10-12 | 24.06 | 24.06 | 24.06 | -2.69 |
| 2026-10-09 | 26.75 | 26.75 | 26.75 | -3.15 |
| 2026-10-08 | 29.90 | 29.90 | 29.90 | -0.55 |
| 2026-10-07 | 30.45 | 30.45 | 30.45 | -0.40 |
| 2026-10-06 | 30.85 | 30.85 | 30.85 | -2.25 |
| 2026-10-05 | 33.10 | 33.10 | 33.10 | -1.95 |
| 2026-10-02 | 35.05 | 35.05 | 35.05 | -1.75 |
| 2026-10-01 | 36.80 | 36.80 | 36.80 | -4.42 |
| 2026-09-30 | 41.22 | 41.22 | 41.22 | +1.42 |
| 2026-09-29 | 39.80 | 39.80 | 39.80 | +1.35 |
| 2026-09-28 | 38.45 | 38.45 | 38.45 | +2.75 |
| 2026-09-25 | 35.70 | 35.70 | 35.70 | +2.05 |
| 2026-09-24 | 33.65 | 33.65 | 33.65 | -0.42 |
| 2026-09-23 | 34.07 | 34.07 | 34.07 | +0.47 |
| 2026-09-22 | 33.60 | 33.60 | 33.60 | -0.57 |
| 2026-09-21 | 34.17 | 34.17 | 34.17 | -1.01 |
| 2026-09-18 | 35.18 | 35.18 | 35.18 | +1.84 |
| 2026-09-17 | 33.34 | 33.34 | 33.34 | +0.76 |
| 2026-09-16 | 32.58 | 32.58 | 32.58 | +1.33 |
| 2026-09-15 | 31.25 | 31.25 | 31.25 | +1.25 |
| 2026-09-14 | 30.00 | 30.00 | 30.00 | -1.90 |
| 2026-09-11 | 31.90 | 31.90 | 31.90 | +4.70 |
| 2026-09-10 | 27.20 | 27.20 | 27.20 | — |
What This Singapore paper Price Represents
Daily Singapore-paper reforming spread in USD/bbl: the difference between a gasoline swap and the naphtha swap for the same contract month, as defined for this series.
Compare With
Each comparison states why the series are related and whether the latest values can be subtracted directly (same unit, currency and assessment date). Where they cannot, the values are shown side by side without a difference.
Different products; values are shown side by side and are not subtracted.
| Series | Why compare | Latest | Difference (this − other) |
|---|---|---|---|
| Gasoline 92 Forward Singapore paper · USD/bbl · daily | 92 RON gasoline swap for context; the series basis does not confirm that this is the gasoline leg of the published spread. | 124.32 21 Oct 2026 | not directly comparable |
| Naphtha Forward Singapore paper · USD/bbl · daily | Naphtha swap leg. | 102.95 21 Oct 2026 | not directly comparable |
CommodityScope Assessment Basis
This is the CommodityScope series definition for the published midpoint and assessment range. Characteristics that are not part of this basis are not inferred.
- Product
- Reforming Spread
- Product quality
- Singapore paper · · M1 history
- Location basis
- Singapore paper
- Parcel basis
- Typical physical cargo as transacted on the stated location basis. CommodityScope does not fix a standard parcel tonnage.
- Delivery / loading period
- Not fixed in the published series basis.
- Assessment window
- CommodityScope daily assessment dated as of the published assessment date.
- Currency / unit
- USD/bbl
- Normalization
- Inputs used for the midpoint and the assessment range are considered only after they can be expressed on this series basis and unit. Cross-unit values are not converted on the public site and are not mixed into this series.
Terms not specified
- The published row does not state which gasoline grade (92 or 95 RON) the published spread uses; this page does not assume one.
Specification · stated in the assessment basis
- Singapore paper · · M1 history
Basis: Singapore paper
- Paper/swap values are financially settled forward prices for a contract month, not physical cargo transactions.
- Singapore is a port and storage hub at the southern tip of the Malay Peninsula; Asian refined-product cargoes are commonly priced against Singapore loadings.
Unit: USD/bbl
- USD/mt or USD/bbl as stated; a spread can be negative.
How to use this series, and what it is not for
How to use this series
- Read the level and direction of the differential over time.
What it is not suitable for
- Treating the spread as an arbitrage profit: it excludes freight, timing and quality adjustments.
Product and market references
- CommodityScope Market Assessment Methodology
- ICC Incoterms® 2020 rules (FOB, CFR, CIF, FCA definitions) — Meaning of the delivery terms used in the basis column.
Assessment, assessment range and computed statistics: CommodityScope. The assessment range is an uncertainty interval around the midpoint, not a bid/offer spread. See the Oil Products & Physical Crude Methodology v1.0 for assessment basis, calculation principles and data policy.