The 10 ppm sulphur gasoil cash differential fell to $1.24 a barrel amid competitive offers for the first half of March.
Refining margins for 10 ppm sulphur gasoil were at $25.25 per barrel, supported by a slide in crude oil prices.
Jet fuel refining margins also edged higher from the previous day, at $23.40 per barrel.
The regrade spread widened further to a discount of $1.85 per barrel.
CHINA'S ZPC EXPORTS FIRST JET CARGO
China's mega refiner Zhejiang Petrochemical Corp (ZPC), the country's only private refiner with refined fuel export quotas, on Sunday loaded its first cargo of aviation fuel for export, the east China-based firm said on Tuesday.
SINGAPORE CASH DEALS - One gasoil deal, no jet fuel deal
TENDERS - India's MRPL offers gasoil and jet fuel for March
NEWS
- Oil prices fell on Tuesday after the U.S. government said it would release more crude from its Strategic Petroleum Reserve (SPR) as mandated by lawmakers, defying expectations from some traders that the release could be cancelled or delayed.
- The Biden administration said it is selling 26 million barrels of crude oil from the Strategic Petroleum Reserve, a release that had been mandated by Congress in previous years. - Ukraine has started importing U.S.-made diesel fuel almost a year after Russia's invasion, local specialised news agency Enkorr said.
- Regional Express Holdings Ltd has signed a letter of intent for two more Boeing 737-800Ng jets, bring its fleet of 737-800Ng jets to a total of nine.
- Idemitsu Kosan Co , Japan's second-biggest oil refiner, revised its full fiscal year net profit forecast down by 32% to 220 billion yen ($1.7 billion) on Tuesday, expecting lower oil prices and stronger yen to hit earnings.
PRICES
MID-DISTILLATES
CASH ($/T) ASIA CLOSE Change % Change Prev RIC
Close
Spot Gas Oil 0.5% 102.89 3.17 3.18 99.72 GO 0.5 Diff -6.44 -0.05 0.78 -6.39 Spot Gas Oil 0.25% 104.15 2.68 2.64 101.47 GO 0.25 Diff -5.18 -0.54 11.64 -4.64 Spot Gas Oil 0.05% 106.00 2.89 2.80 103.11 GO 0.05 Diff -3.33 -0.33 11.00 -3.00 Spot Gas Oil 0.001% 110.57 3.02 2.81 107.55 GO 0.001 Diff 1.24 -0.19 -13.29 1.43 Spot Jet/Kero 108.78 2.41 2.27 106.37 Jet/Kero Diff 1.44 0.00 0.00 1.44 For a list of derivatives prices, including margins, please double
click the RICs below.
Brent M1 Gasoil M1 Gasoil M1/M2 Gasoil M2 Regrade M1 Regrade M2 Jet M1 Jet M1/M2 Jet M2 Gasoil 500ppm-Dubai Cracks M1
Gasoil 500ppm-Dubai Cracks M2
Jet Cracks M1 Jet Cracks M2 East-West M1 East-West M2 LGO M1 LGO M1/M2 LGO M2 Crack LGO-Brent M1 Crack LGO-Brent M2 (Reporting by Jeslyn Lerh)
