Terminal
Singapore
سنغافورة
What it is
The world's largest bunkering port, and a refining, storage and trading hub at the southern exit of the Strait of Malacca.
Why it moves price
Asian product pricing is read from it, and its middle-distillate and residue stocks are a weekly signal on regional refining margins. Sitting at the mouth of Malacca, its condition and the strait's are in practice one thing.
Tension is measured daily, not described
We track thirteen chokepoints and terminals, publish a daily tension score with its components and the reasoning behind each, and tie it to the prices that move with it.