US asphalt demand continued to rise in April even as prices climbed, spurred by the war in the Middle East.
Product supplied — a proxy for demand — rose by 16pc from March to April after a previous 25pc rise from February to March, according to the latest US Energy Information Administration (EIA) data. Product supplied reached 10.61mn bl in April, the highest level since October 2025 and the highest April level since 2008, extending the demand strength seen in March.
US imports of asphalt also rose to 2.1mn bls in April, up by 97pc from a year earlier and the highest level since July 2024.
The US east coast led the increase in imports with a 17pc climb from March and a 96pc increase from last April to roughly 1.3mn bls. Imports along the coast primarily came from Canada, Venezuela and Turkey, according to Kpler data.
Demand for asphalt remained strong throughout April as market participants rushed to secure supply over concerns the war in Iran would continue to push asphalt values higher. Despite sharp price increases throughout the month, buyers continued to request as much volume as possible, sellers said.
Several waterborne asphalt assessments reached their peak for the month in the week ended on 10 April. Gulf coast barge prices rose to $540/st that week; the cif New York assessment rose to $535/st, and the Midwestern barge assessment rose to $450/st.
Meanwhile, light-sweet benchmark crude prices reached their highest level since June 2022 in April. WTI jumped to $112.95/bl on 7 April, and Brent crude rose to $118.03/bl on 29 April.
Despite the sharp rise in both crude and asphalt prices, both Gulf and Atlantic coast waterborne values were at 70pc of Brent crude prices over the month of April.
