Asia Distillates-Gasoil, jet fuel margins rise on shrinking Singapore inventories
SINGAPORE, May 11 (Reuters) - Asia's 10ppm sulphur gasoil and jet fuel margins rose on Thursday, as demand sentiment improved after stockpiles in the Singapore hub fell to a more than two-month low.
Refining margins for 10ppm sulphur gasoil GO10SGCKMc1 closed trading at $15.57 a barrel, higher than the previous session's close of $14.93 a barrel.
Jet fuel refining margins JETSGCKMc1 strengthened to $15.10 a barrel, tracking gains in 10ppm sulphur gasoil.
Cash differentials for 10ppm sulphur gasoil GO10-SIN-DIF were little changed at minus 35 cents a barrel, compared with minus 36 cents a barrel in the previous session.
Asia's regrade value JETREG10SGMc1 was at minus 47 cents by the end of the trading session, compared with the previous session's close of minus 40 cents.
SINGAPORE CASH DEALS O/AS
- Two gasoil deals, jet fuel deals.
- U.S. crude oil stockpiles rose unexpectedly last week due to another release from reserves and a drop in exports, while gasoline inventories fell more than forecast as demand jumped, the Energy Information Administration said on Wednesday.
- Distillate stockpiles USOILD=ECI, which include diesel and heating oil, fell by 4.2 million barrels in the week to 106.2 million barrels, versus expectations for a 800,000-barrel drop, the data showed. EIA/S
- Inventories of middle distillates in storage at key trading hub Singapore edged lower as gasoil imports fell week-on-week, official data showed on Thursday. O/SING1
- Oil prices rose on Thursday, clawing back some of the previous day's losses, supported by fuel demand data from the United States, the world's top oil consumer. O/R
- China has decreased its second batch of export quota volumes for refined oil products, consultancies and trader sources said on Thursday, focusing on local demand during the refinery overhaul season and boosting domestic sales amid poor export margins.
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 Matthew Chye; Editing by Subhranshu Sahu)
((Matthew.Chye@thomsonreuters.com; Mobile: +65 91552300))