The regrade spread widened further to a
discount of $1.90 per barrel.
SINGAPORE CASH DEALS - One gasoil deal, no jet fuel trades.
INVENTORIES
- U.S. crude oil and fuel inventories rose last week,
according to market sources citing American Petroleum Institute
figures on Tuesday. Crude stocks rose by about 10.5 million
barrels in the week ended Feb. 10, they said. Gasoline
inventories rose by about 846,000 barrels, while distillate
stocks rose by about 1.7 million barrels. - Middle distillate stock levels at Fujairah Oil Industry
Zone rose 98,000 barrels to 1.83 million barrels for the week
ended Feb. 13, according to industry information service S&P
Global Commodity Insights. NEWS
- Oil dropped for a second day on Wednesday, as an industry
report pointed to ample supplies in the United States and
anticipation of further interest rate hikes sparked concerns
over weaker fuel demand and the economic outlook. - China will make up nearly half of this year's oil demand
growth after it relaxed its COVID-19 curbs, the International
Energy Agency (IEA) said on Wednesday, but restrained OPEC+
production could mean a supply deficit in the second half.
- OPEC has raised its 2023 global oil demand growth forecast
in its first upward revision for months, due to China's
relaxation of COVID-19 restrictions, and trimmed supply
forecasts for Russia and other non-OPEC producers, pointing to a
tighter market.
PRICES
MID-DISTILLATES
CASH ($/T) ASIA CLOSE Change % Change Prev RIC
Close
Spot Gas Oil 0.5% 103.08 0.19 0.18 102.89 GO 0.5 Diff -6.2 0.24 -3.73 -6.44 <GO-SIN-DIF
>
Spot Gas Oil 0.25% 104.31 0.16 0.15 104.15 GO 0.25 Diff -4.97 0.21 -4.05 -5.18 <GO25-SIN-D
IF>
Spot Gas Oil 0.05% 106.16 0.16 0.15 106 GO 0.05 Diff -3.12 0.21 -6.31 -3.33 <GO005-SIN-
DIF>
Spot Gas Oil 110.88 0.31 0.28 110.57 0.001%
GO 0.001 Diff 1.6 0.36 29.03 1.24 <GO10-SIN-D
IF>
Spot Jet/Kero 109.22 0.44 0.40 108.78 Jet/Kero Diff 1.83 0.39 27.08 1.44 <JET-SIN-DI
F>
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 Matthew Chye)
SINGAPORE, Feb 15 (Reuters) - Asia's 10 ppm sulphur
gasoil margins rose on Wednesday on weaker crude prices even as
U.S. and Middle East inventory stockpiles posted weekly rises.
Refining margins for 10 ppm sulphur gasoil
closed higher at $26.91 a barrel, compared with $25.25 a barrel
previously.
Meanwhile, cash differentials for 10 ppm
sulphur gasoil closed at $1.60 a barrel, up by 36 cents
day-on-day.
Jet fuel refining margins edged higher from the
previous day, at $25.01 per barrel.
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