Asia Distillates-Gasoil premiums and margins up on oil surge, Dec demand
SINGAPORE, Nov 16 (Reuters) - Asia's 10 ppm sulphur gasoil margins and premiums rose on Tuesday following a late afternoon surge in oil futures and strong buying interest in the open market.
Cash differentials GO10-SIN-DIF for 10 ppm sulphur gasoil firmed to $3.66 a barrel on buying interest for December parcels, with only one China major offering a spot lot.
Refining margins GO10SGCKMc1 for 10 ppm sulphur gasoil firmed by $1.30 a barrel to $40.28 a barrel.
Jet fuel refining margins JETSGCKMc1 followed the same trend, closing 85 cents a barrel higher at $34.48 a barrel
Cash premiums JET-SIN-DIF for jet fuel rose to $2.26 a barrel, reflecting healthy first-half December loading demand.
SINGAPORE CASH DEALS O/AS
- No gasoil or jet deal.
- U.S. crude oil stockpiles fell in the latest week, while fuel stockpiles rose, market sources said citing American Petroleum Institute figures on Tuesday. Crude stocks fell by about 5.8 million barrels for the week ended Nov. 11, they said. Gasoline inventories rose by about 1.7 million barrels, while distillate stocks rose by about 850,000 barrels, according to the sources, who spoke on condition of anonymity. API/S
- Oil prices rose on Wednesday, erasing earlier losses, after an incident involving a commercial vessel off the coast of Oman, but rising COVID-19 cases in China capped gains. O/R
- The U.S. Navy's Fifth Fleet is aware of, Commander Timothy Hawkins told Reuters on Wednesday. The Associated Press cited a defense official as saying that a Liberian-flagged oil tanker was struck in an exploding drone attack off the Gulf of Oman.
- Global independent tank storage company Vopak VOPA.AS is introducing that requires customers to provide a certificate of origin for oil stored at its terminals, four industry sources told Reuters.
- Indian refinerswhen European Union sanctions take effect, pending clarity on the proposed G7 price-cap mechanism, according to sources familiar with the refiners' crude purchase plans.
Spot Gas Oil 0.5%
GO 0.5 Diff
Spot Gas Oil 0.25%
GO 0.25 Diff
Spot Gas Oil 0.05%
GO 0.05 Diff
Spot Gas Oil 0.001%
GO 0.001 Diff
For a list of derivatives prices, including margins, please double click the RICs below.
Gasoil 500ppm-Dubai Cracks M1
Gasoil 500ppm-Dubai Cracks M2
Jet Cracks M1
Jet Cracks M2
Crack LGO-Brent M1
Crack LGO-Brent M2
(Reporting by Trixie Yap;
Editing by Vinay Dwivedi)