South Korea's GS Caltex offers more March jet fuel -sources

Kitco Media
By Reuters
Published:
Updated:
Reuters
SINGAPORE, Feb 10 (Reuters) - South Korea's GS Caltex has issued a tender to sell more March-loading jet fuel, having sold two cargoes of the aviation fuel a week earlier, three sources with knowledge of the matter said on Friday.


The refiner is offering at least four cargoes in a tender that closes on Feb. 13, but further detail on loading timings could not be confirmed, they added.


Bids have to be valid until the close of business on Feb. 13.


Last Friday two March-loading cargoes were sold by the refiner at a premium of about $2 a barrel to Singapore quotes.


This follows the increase in jet fuel production by several refiners across the Asian region to cash in on better margins compared with gasoil, one of the three sources said.


However, this increase in production could soon weigh on demand-supply fundamentals for March-April, given that winter heating demand for the fuel has gradually slowed, especially in some parts of northeast Asia, the source said.


The company was not immediately available for comment.
(Reporting by Trixie Yap Editing by David Goodman )

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